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TRANSCRIPT
TOWNSHIP OF HADDON
AUDIT REPORT FOR THE YEAR ENDED DECEMBER 31, 2012
TOWNSHIP OF HADDON COUNTY OF CAMDEN
CONTENTS
PART lPAGE
Independent Auditor's Report
Financial Statements - Regulatory Basis: Current Fund:
Statements of Assets, Liabilities, Reserves &Fund Balance -Regulatmy Basis
Comparative Statement of Operations and Changes in Fund Balance -Regulatmy Basis
Statement of Revenues - Regulatory Basis Statement of Expenditures - Regulatory Basis
Trust Fund:Statements of Assets, Liabilities, Reserves &
Fund Balance -Regulatory Basis
General Capital Fund:Statements of Assets, Liabilities, Reserves &
Fund Balance -Regulatmy Basis
Sewer Utility Fund:Statements of Assets, Liabilities, Reserves &
Fund Balance -Regulatory BasisStatement of Operations & Change in Operating
Fund Balance -Regulatory BasisStatement of Revenues -Regulatory Basis
Statement of Expenditures - Regulatory Basis
General Fixed Assets Account Group:Comparative Statement of General Fixed Assets &Fund Balance - Regulatory Basis
Notes to Financial Statements
Supplemental Schedules: Current Fund
Schedule of Cash - Treasurer Schedule of Cash - Collector Schedule of Change FundsSchedule of Taxes Receivable & Analysis
of Property Tax Levy
EXHIBITS
A 5
A-1 7A-2 8A-3 10
B 15
c 16
D 17
D-1 19D-2 20D-3 21
E 22
23
A-4 40A-5 41A-6 41
A-7 42
CONTENTS (continued):
Current Fund (continued): Schedule of Tax Title LiensSchedule of Due from State of NJ Veteran & Senior Citizens Schedule of Revenue Accounts ReceivableSchedule of Foreclosed Property Schedule of DefeITed ChargesSchedule of 2010 Approptiation Reserves Schedule of Reserve for Encumbrances Schedule of Prepaid TaxesSchedule of Tax OverpaymentsSchedule of Dne to State of NJ Unifonn Construction Code Schedule of Local School Disttict TaxSchedule of Prepaid Fire District Taxes Schedule of County Taxes PayableSchedule of Due County for Added & Omitted Taxes Schedule of Business Improvement District Taxes Payable Schedule of Dne to Camden County MUASchedule of State & Federal Grants ReceivableSchedule of Reserve for Grants - Unapproptiated Schedule of Reserve for Grants - Approptiated
Trust Fund:
EXHIBITS
A-8A-9 A-10 A-11 A-12 A-13 A-14 A-15 A-16 A-17 A-18 A-19 A-20 A-21 A-22 A-23 A-24 A-25 A-26
PAGE
43434445454649494950505051515152525354
Schedule of Cash - Treasurer B-1 56Schedule of Deposits on Future Assessments B-2 57Schedule of Reserve for Animal Control Fund Expenditures B-3 57Schedule of Due To/From CuITent Fund B-4 57Schedule of Community Development Block Grant B-5 58Schedule of Due to State of NJ Animal Control Fund B-6 58Schedule of Payroll Deductions Payable B-7 58Schedule of Due To/From Cmrent Fund - Trust Fund Other
B-8 59Schedule of Due to State of NJ Martiage & Bmial Fees B-9 59Schedule of Reserve for Public Defender B-10 59Schedule of Reserve for Parking Offenses B-11 60Schedule of Reserve for NJ Unemployment B-12 60Schedule of Reserve for C01mnunity Development Block B-13 60Schedule of Premiums Received at Tax Sale B-14 61Schedule of Reserve for Disposal of Forfeited Property B-15 61Schedule of Reserve for Tax Title Lien Redemption B-16 61Schedule of Reserve for Municipal Drug Alliance B-17 62Schedule of Reserve for Funds Held in Escrow B-18 62Schedule of Reserve for Employment of Off-Duty Police B-19 63Schedule of Reserve for Recreation Trnst Fund B-20 63Schedule of Reserve for Accumulated Leave Compensation B-21 63Schedule of Reserve for Libnuy - Trnst Other Fund B-22 64Schedule of Reserve for Maintenance -Building Signs B-23 64Schedule of Reserve for Snow Removal B-24 64Schedule of Reserve for Civic Celebrations B-25 65Schedule of Reserve for Cell Phone Tower Lease B-26 65Schedule of Reserve for Election Expense B-27 65Schedule of Reserve for M.L.E.T.A. B-28 65
CONTENTS (continued):
EXHIBITS
General Capital Fund:Schedule of General Capital Cash - Treasurer C-1Analysis of General Capital Cash C-2 Schedule of DefeITed Charges to Future Taxation - Funded C-3 Schedule of DefeITed Charges to Fnture Taxation -
Unfunded C-4Schedule of Reserve for Repayment of Debt C-5Schedule of Due to Current Fund C-6Schedule of Capital Improvement Fund C-7Schedule of Capital Improvement Authorizations C-8 Schedule of Green Trust Loan -Crystal Lake Development C-9 Schedule of Green Trust Loan -MacArthur Tract C-10Schedule of General Serial Bonds C-11Schedule of Obligations Under Capital Lease C-12Schedule of Bond Anticipation Notes C-13 Schedule of Bonds & Notes Authorized but not Issued C-14 Schedule of Due from State of New Jersey Road Aid C-15
Water-Sewer Utility Operating Fund:
PAGE
676868
697070707172737475767778
Schedule of Utility Cash -Treasurer D-4 80Schedule of Water-Sewer Utility Cash - Treasurer D-5 81Analysis of Cash -Utility Capital Fund D-6 81Schedule of Consumer Accounts Receivable - Water D-7 82Schedule of Consmner Accounts Receivable - Sewer D-8 82Schedule of Due to Current Fund D-9 82Schedule of Revenue Accounts Receivable D-10 83Schedule of Utility Lieus D-11 83Schedule of Capital Improvement Fund D-12 83Schedule of Fixed Capital - Water D-13 84Schedule of Fixed Capital - Sewer D-14 85Schedule of Fixed Capital Authorized & Uncompleted D-15 86Schedule of 2011 Appropriation Reserves D-16 87Schedule of Reserve for Encumbrances D-17 87Schedule of Protested Check Receivable -Operating Fund D-18 87Schedule of Accrued Interest Payable - Operating Fund D-19 88Schedule of Due to Utility Operating Fund D-20 88Schedule of Capital Fund Balance D-21 88Schedule of Reserve for Amortization D-22 89Schedule of Deferred Reserve for Amortization D-23 89Schedule oflmprovement Authorizations D-24 90Schedule of Water-Sewer Serial Bonds D-25 91Schedule of NJ Environmental Infrastructure Trust Loan D-26 92Schedule of NJ Environmental Infrastructure Trust D-27 92Schedule of Bond Anticipated Notes D-28 93Schedule of Bonds & Notes Authorized but not Issued D-29 94Schedule of Reserve for Repayment of Bonds D-30 94
Single Audit Section:Report on Compliance for Each Major State Program; Report on Internal Control
Over Compliance; and Report on the Schedule of Expenditures of State AwardsReqnired by OMB Circular A-133 and NJ OMB Circular 04-04 K-1 96
CONTENTS (continued):
Report on Internal Control Over Financial Reporting and Complianceand Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards K-2
Schedule of Expenditures of State Financial Assistance K-3 Notes to Schedule of State Financial Assistance K-4Schedule of Findings & Questioned Costs K-5 Smrunary Schedule of Prior Audit Findings & Questioned Costs K-6
Supplementary Data: Smmnary of Statutory DebtComparative Statement of Operations & Change in Fund
Balance - Current FundComparative Statement of Operations & Change in
Fund Balance - Water & Sewer Utility Operating Fund
Comparison of Tax Levies and Collection Cmrently Property Acquired By Tax Title Lien Liquidation Officials in Office
PART II
Comments and Recommendations: Scope of Audit
General Co=entsContracts and Agreements Required to be AdvertisedContracts and Agreements Requiring Solicitation of Qnotations Collection of Interest on Delinquent Taxes and Assessments Delinquent Taxes and Tax Title LiensDeductions from Taxes Examination of Bills Mnnicipal ConrtFixed Assets PayrollFollow-Up of Prior Year Findings Acknowledgment
******************
PAGE
99101102103107
109
110
111112113114
116116117117117117118118118118119119119
(Concluded)
TOWNSHIP OF HADDON COUNTY OF CAMDEN
PART I
INDEPENDENT AUDITOR'S REPORTAND FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2012
************
1
I HFl\]HOLMAN I FRENlA
ALLISON, P.C.Certified Public Accountants & Consultants
10 Allen Street, Suite 26, Toms River. NJ 08753 ·Tel:732.797.1333 618 Stokes Road, Medford, NJ 08055 • Tel:609.953.0612
912 Highway 33, Suite 2, Freehold, NJ 07728 • Tel:732.409.0800795 Canton Street, Troy. PA 16947 ·Tel:570
297.5090 926 Main Street, Suite 103, Rome, PA 18837 • Tel: 570.297.5090
www.hfacpas.com
INDEPENDENT AUDITOR' S REPORT
Honorable Mayor and Members of the Township Council
Township of Haddon, New Jersey
Report on the Financial Statements
We have audited the accompanying comparative statements of assets, liabilities, reserves and fund balance--regulatory basis of the various funds of the Township of Haddon, State of New Jersey as of December 31, 2012 and 2011, and the related comparative statements of operations and changes in fund balance--regulatory basis for the years then ended, and the related comparative statements of revenues- regulatory basis, statement of expenditures--regula tory basis and the related notes to the financial statements for the year ended December 31, 2012.
Management' s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor' s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptrnller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves perfonning procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
2
Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles
As discussed in Note I to the fiuancial statements, the Township prepares its financial statements using accounting practices that demonstrate compliance with regulatory basis of accounting and bndget laws of the State of New Jersey, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. The effects on the financial statements of the variances between these regulat01y accounting practices and accounting principles generally accepted in the United States of America, although not reasonably detenninable, are presumed to be material.
Adverse Opinion on U.S. Generally Accepted Accounting Principles
In our opinion, because of the effects of the matters, as discussed in the preceding paragraph, the financial statements referred to above do not present fairly, in confonnity with accounting principles generally accepted in the United States of America, the financial position of the Haddon Township, County of Camden, New Jersey, as of December 31, 2012, or the results of its operations or its cash flows for the year then ended.
Opinion on Regulatory Basis of Accounting
Furthennore, in our opinion, the financial statements referred to above present fairly, in all material respects, the assets, liabilities, reserves and fund balance--regulatory basis of the various funds of the Township of Haddon, County of Camden, State of New Jersey, as of December 31, 2012 and 2011, and the results of its operations and changes in fund balance of such funds--regulatmy basis for the years then ended, and the revenues--regulatory basis, expenditures--regulatmy basis of the various funds and general fixed assets, for the year ended December 31, 2012 in confonnity with accounting principles and practices presc1ibed by the Division of Local Govennnent Services, Department of Community Affairs, State of New Jersey as described in Note 1.
Other Matters
Report on Supplementary Information
Our audit was made for the purpose of fanning an opinion on the financial statements referred to in the first paragraph as a whole. The supplemental financial statements presented for the various funds are presented for purposes of additional analysis as required by the Division of Local Government Services, Department of Community Affairs, State of New Jersey and is not a required part of the above financial statements. Such infonnation is the responsibility of management and was not de1ived from and relates directly to the underlying accounting and other records used to prepare the financial statements. Such infonnation has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such infonnation directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the inf01mation is fairly stated in all material respects in relation to the financial statements of each of the respective individual funds and account group taken as a whole.
3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 28, 2013, on our consideration of the Haddon Township's internal control over financial reporting and on our tests of its co111pliance with certain provisions of laws, regulations, contracts, and grant agree1nents and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral pait of an audit perfonned in accordance with Government Auditing Standards in considering the Haddon Township's internal control over financial reporting and complirn.1ce.
Respectfully submitted,
HOLMAN FRENIA ALLISON, P.C.
Registered Municipal Accountant CR #435
March 28, 2013 Medford, New Jersey
BASIC FINANCIAL STATEMENTS
5
Special E1nergency Authorization En1ergency Authorization
A-12 A-12 220,544 330,816
Total Defen·ed Charges 220,544 330,816
Total Regular Fund, Receivables, Other AssetsWith Full Reserves & Defe1Ted Charges 9,080,274 6,836,394
State & Federal Grants:Due fro1n Current Fund A 466,704 533,724Grants Receivable A-24 611,159 579,375
Total State & Federal Grants 1 077,863 1 113,099
TOWNSHIP OF HADDON CURRENT FUND
COMPARATIVE STATEMENT OF ASSETS, LIABILITIES, RESERVES AND FUND BALANCE - REGULATORY BASIS
DECEMBER 31, 2012 AND 2011
EXHIBIT A(Page I of 2)
ASSETS REFERENCE 2012 2011
Regular Fund:Cash A-4 $ 6,835,983 $ 4,375,820Cash - Change Fund A-6 650 575Due Fro1n State of New Jersey - State Training Fees Due fro1n State of New Jersey for Senior Citizen
A-17 4,201
& Veteran Deductions A-9 52,743 73,201
Total Regular Fund 6,889,376 4 453,797
Receivables & Other Assets With Full Reserves:Delinquent Property Taxes Receivable A-7 24,407 37,770Tax Title Liens Receivable A-8 30,128 85,997Foreclosed Property - Assessed Valuation A-11 1,894,100 1,894,100Revenue Accounts Receivable A-10 14,161 23,589Protested Checks Receivable 6,195 6,195Due Fro111 Bank 1,144 915Due Frain Interfunds:
Anin1al Conh·ol Fund General Capital Fund
Bc
219 159
Water-Sevver Utility Operating Fund D 3,056
Total Receivables & Other Assets With Full Reserves 1,970,354 2 051,781
Deferred Charges
Total Assets $ 10 158.137 $ 7 949.493
The acco1npanying Notes to the Financial State1ncnt are an integral part of this Statc1nent.
The accompanying Notes to the Financial State1nent are fill integral pa1i of this Statement
6
Appropriation Reserves A-3 $ 463,625 $ 427,725Reserve for Encumbrances A-3,A-14 138,975 104,924Prepaid Taxes A-15 276,262 232,553Tax Overpayments A-16 33,227 3,027Local School District Taxes Payable A-18 52 52Fire District Taxes Payable A-19 4,494 267,687Due County Taxes Payable A-20 2,954,008Due County for Added & Omitted Taxes A-21 11,532 17,504Special E1nergency Note Payable 330,816 441,088Reserve for Revaluation 43,196 45,789Reserve for Local School Contribution 8,014 8,014Reserve for Public Works Retro Payroll 15,000 15,000Reserve for Salt & Sand 19,500Reserve for Tax Appeals 10,000Reinsm·ance Proceeds Payable 20,139 20,139Due to Camden County MUA 71,478Due to Federal & State Grant Fund A 466,704 533,724Due to General Capital Fund c 187,239 202,010Due to Utility Operating Fund D 4,360Due to Trust - Other Fund B 86,031 90 249
Subtotal 5,073,174 2,480,963
Reserve for Receivables & Other Assets 1,970,354 2,051,781Fund Balance A-1 2,036,746 2,303,650
Total Regular Fund 9,080,274 6,836,394
State & Federal Grants:Reserve for Grants Unappropriated A-25 81,965 62,766Reserve for Grants Appropriated A-26 995,898 1,050,333
Total State & Federal Grants 1,077,863 l ,l13,099
TOWNSHIP OF HADDON CURRENT FUND
COMPARATIVE STATEMENT OF ASSETS, LIABILITIES, RESERVES AND FUND BALANCE - REGULATORY BASIS
DECEMBER 31, 2012 AND 2011
EXHIBIT A(Page 2 of 2)
LIABILITIES RESERVES & FUND BALANCE REFERENCE 2012 2011
Regular Fund: Liabilities:
Total Liabilities, Reserves & Fund Balance 10,158,137 $ 7 949 493
7
Salaries & Wages 3,647,907 3,904,708Other Expenses 4,433,231 4,289,548
Deferred Charges & Statutory Expenditures - Municipal Within "CAPS" 918,697 1,066,677Operations Excluded fi·o1n "CAPS":
Salaries & Wages 247,539 193,231Other Expenses 714,375 732,349
Capital Irnprove1nents 65,000 65,000Municipal Debt Service 1,345,412 1,467,098Defe1Ted Charges - Municipal Excluded fi·o1n "CAPSn 110,272 113,872
Special District Taxes - Business Improve111ent District 150,918 151,152Fire District Taxes 1,304,341 1,279,110County Taxes 10,671,859 9,527,692Due County for Added & 01nitted Taxes 11,532 17,504Local Distiict School Tax 21,730,093 21,568,456Create Reserves for:
Disallo\ved Prior Year SC & Vet 22,494
TOWNSHIP OF HADDON CURRENT
FUNDCOMPARATIVE STATEMENT OF OPERATIONS AND
CHANGES IN FU ND BALANCE - REGULATORY BASIS FOR THE YEARS ENDED DECEMBER 31, 2012 AND
2011
EXHIBIT A-1
Revenue & Other Inco1ne Realized·. 2012 2011
Fund Balance Utilized $ 1,271,800 $ 1,575,000Miscellaneous Revenue Anticipated 3,100,072 3,261,862Receipts Fro1n Delinquent Taxes & Tax Title Liens 4,438Receipts Fro1n Cun·ent Taxes 41,113,761 39,823,638Nonbudget Revenue 490,994 517,574Other Credits to Inco1ne:
Unexpended Balance of Appropriation Reserves 381,849 309,198Liquidation of Reserves For:
Interfunds 20,090 73,815
Total 46,378,566 45,565,525
Expenditures:Budget & Emergency Appropriations:
Operations Within "CAPS":
Total Expenditures 45,373 670 44,376 397
Regulatory Excess to Fund Balance 1,004,896 1,189,128Fund Balance Janua1y 1 2,303,650 2,689,522
Total 3,308,546 3,878,650
Decreased by: Utilization as Anticipated Revenue 1,271,800 1,575,000
Fund Balance December 31 $ 2,036 746 $ 2.303.650
8
The accompanying Notes to the Financial State1nent are fill integral part of this Statement.
Alcoholic Beverages 25,000 25,500 $ 500Other 20,000 27,775 7,775
Municipal Court 315,000 246,263 (68,737)Interest & Costs on Taxes 80,000 109,695 29,695Parking Meters 10,000 12,549 2,549Operation of Crystal Lake 205,000 232,499 27,499PATCO ProceedsConsolidated Municipal
Property Tax Relief Act 144,635 144,635Energy Receipts Tax 1,117,580 1,117,580Uniform Construction Code
Fees & Pennits 160,000 164,291 4,291
Recycling T01u1age Grant 43,024 43,024Drunk Driving Enforce1nent 3,830 3,830Clean Co1nmunities Grant 23,279 23,279Alcohol Education & Rehabilitation Fm1d $ 2,914 2,914Municipal Alliance of Alcoholism &
Drug AbuseSafe & Secure Co1nn1unities Program 51,605 8,395 60,000Body Ai11or Grant 1,727 1,727
NJ Historic Trust Grant 50,000 50,000Econonric Development Authority Grant 176,708 176,708Unifonn Fire Safety Act 20,000 30,369 10,369
Subtotal General Revenues 4,139,484 238,017 4,371,872 (5,629)Local Tax for Municipal Purposes 7 288,004 7,365,582 77 578
9
TOWNSHIP OF HADDON CURRENT FUND
STATEMENT OF REVENUES - REGULATORY BASISFOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-2(Page 1 of 2)
APPROPRJATEDby EXCESS OR
BUDGET N.J.S.A.40A:47-87 REALIZED (DEFICIT)
Fund Balance Utilized $ 1 271 800 $ 1 271 800
Miscellaneous Revenue:Licenses:
Fees & Pennits:Other 220,000 247,430 27,430
Fines & Costs:
Borough of Audubon Park - PoliceProtection Services 380,004 380,004
Borough of Audubon Park - OtherServices
Debt Service 47.000 (47,000)
Total Miscellaneous Revenues 2,867,684 238,017 3,100,072 (5,629)
Budget Totals 11,427,488 238,017 11,737,454 71,949Nonbudget Revenues 490,994 490,994
Total $ 11.427,488 $ 238 017 $ 12.228,448 $ 562,943
The accompanying Notes to the Financial State1nent are an integral part of this Statement.
The acco1npanying Notes to the Financial State1nent are an integral part of this State1nent.
9
Cable TV Fees $ 191,718Sidewalk Inspection Fees 12,000Planning & Zoning 10,985Rent Control BoaTd 23,780Other 8,947
TOWNSHIP OF HADDON CURRENT
FUNDSTATEMENT OF REVENUES - REGULATORY
BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
ANALYSIS OF REALIZED REVENUES
Allocation of Cu1Tent Tax Collections:Revenue Fro1n CollectionsLess: Allocated for School, County Taxes & Special Distiict Taxes
Total Allocation of Cun·ent Tax Collections
Add: Budget Appropriation - Reserve for Uncollected Taxes
Total Ainount for Support of Municipal Budget Appropriation Fees &
Pennits Other:
EXHIBIT A-2(Page 2 of 2)
$ 41,113,761 33 868,743
7,245,018
120,564
$ 7 365 582
Total Fees & Pe1n1its Other
$ 247 430
ANALYSIS OF NONBUDGET REVENUES
Miscellaneous Revenue Not Anticipated: Revenue Accounts Receivable:
Interest On InvestinentsPayinent in Lieu of Taxes
Total Revenue Accounts Receivable
Receipts fro1n Delinquent Taxes:Delinquent Tax CollectionsTax Title Liens
Total Receipts fro1n Delinquent Taxes:
Collector.Insurance RefundsHIF Reinsurance Payinents Civic CelebrationsBOE Gas Rci1nbursc1ncnts Budget RefundsSale of Recycling Material CopiesPATCO ProceedsOther
Total Collector
Total Nonbudgeted Revenue
$ 101,658 60,805
162,463
7,178 69,650
76,828
3,1907,417
15539,10749,35572,532
9730,000
49,850
251,703
$ 490 994
The accompanying Notes to the Financial State1nent are an integral part of this Statement.
10
Salaries and \Vages 2,835 2,835 2,029 806Other Expenses 1,000 1,000 250 750
Financial Adntinistration (Treasu1y):Salaries and Wages 14,200 14,300 14,230 70Other Expenses 18,000 18,000 10,000 2,305 5,695
Audit Services: Annual Audit 47,000 47,000 47,000
Revenue Adurinistration (Tax Collector):Salaries and Wages 59,882 78,382 75,390 2,992Other Expenses 12,400 12,400 8,461 651 3,288
Assessments of Taxes:Salaries and Wages 65,726 66,726 66,486 240Other Expenses 23,000 23,000 20,558 2,442
legal Services:Other Expenses 165,100 191,100 190,842 258
Municipal Cou1tSalaries and Wages 172,495 172,495 148,619 23,876Other Expenses 17,717 18,167 18,025 94 48
Public Defender:Sala1ies and Wages 13,390 13,390 13,390
TOWNSHIP OF HADDON CURRENT FUND
STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-3(Page 1 of 5)
APPROPRIATlONS EXPENDED
OPERATIONS - Within "CAPS" BUDGETBUDGET AFTER MODIFICATION
PAID OR CHARGED ENCUMBERED RESERVED CANCELLED
General Government Functions:General Adtninist:ration:
Salaiies and Wages $ 2,000 $ 2,000 $ 259 $ 1,741Other Expenses 1,100 1,100 1,085 15
Hwnan Services:Salaiies and Wages 14,065 14,065 13,790 275Other Expenses
Mayor & C01n1nissioners:26,000 38,000 37,836 164
Salaties and Wages 25,860 25,860 21,753 4,107Other Expenses 6,000 6,000 2,806 3,194
Municipal ClerkSalaries and Wages 7,501 7,501 4,445 3,056Other Expenses 27,750 27,750 22,721 $ 548 4,481
Registrar of Vital Statistics:
Engineeling Se1vices & Costs:Other Expenses 25,000 25,000 13,681 11,319
Econo1nic Develop1nent:Other Expenses
Land Use Adn1inistration:13,000 13,000 11,437 1,563
Planning Board:Salmies and Wages 40,279 46,279 46,215 64Other Expenses 2,000 3,200 3,043 157
Code Enforcement & Administration:Rent Control Co1nnUssion:
Salaries and Wages 10,384 10,384 9,395 989OU1er Expenses 1,200 1,200 225 150 825
Insurance:General Liability 95,000 110,000 109,886 114Surety Bond Premimns 500 500 500
The acc01npanying Notes to the Financial State1nent are an integral patt of this Stateinent.
11
Disability hlsurance 4,500 5,500 5,151 349Worker's Compensation 275,000 275,500 275,3I6 I84E1nployee Group Health 1,071,000 1,076,500 1,064,029 12,471Health Benefits Waiver 17,750 17,750 13,299 4,451Une1nployment Insurance 40,000 40,000 40,000
Salaries and Wages 2,298,712 2,298,712 2,272,947 25,765Other Expenses 113,000 113,000 90,074 16,229 6,697
Office of E1nergency Manage111entSalaries and Wages 6,809 6,809 6,809Other Expenses 250 250 250
Unifonn Fire Safety ActSalmics and Wages 31,204 33,554 33,519 35Other Expenses 2,500 2,500 2,500
Fire Hydrant Service 17,500 16,500 16,099 401Municipal Prosecutor:
Salaries and \Vages 13,390 13,390 13,390
Salmies and Wages 580,486 550,486 533,402 17,084Other Expenses 98,000 88,000 68,419 3,915 15,666
Maintenat1ce of Traffic Lights: Other Expenses
Shade Tree Progrmn: Salaries and Wages
15,000
3,158
15,000
3,208
1,096
3,191
13,904
17Other Expenses
Solid Waste Collection: Other Expenses
20,000
750,440
20,000
750,440
16,971
719,713
842
20,740
2,187
9,987Building & Grounds:
Other Expenses 41,500 41,500 19,765 3,544 18,191Vehicle Maintenance:
Other Expenses 100,750 90,750 58,579 5,518 26,653
Salaiies and Wages 74,110 86,110 85,791 319Other Expenses 72,000 67,000 57,239 9,728 33
Concession Stand:Other Expenses
Parks & Playgrounds:2,500
Other Expenses 14,130 15,630 15,363 108 159
TOWNSHIP OF HADDON CURRENT
FUNDSTATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-3(Page 2 of 5)
APPROPRJATIONS EXPENDED BUDGET AFTER PAID OR
OPERATIONS - Within "CAPS" BUDGET MODIFICATION CHARGED ENCUMBERED RESERVED CANCELLED
Insurance (continued):
Public Safety Functions:Police:
Public \Vorks Functions:Streets & Roads Maintenance:
Cormnunity Services Act:Other Expenses 69,000 69,000 47,278 21,722
Health & Human Services:Envirornnental Conm1ission:
Other Expenses 2,000 2,000 1,581 357 62Animal Control Prog:rmn:
Other Expenses 12,000 12,000 8,718 1,834 1,448Park & Recreation Functions:
C1ystal Lake Pool:
Utility Expense & Bulk Purchases:Electricity 40,000 40,000 40,000Street Lighting 200,000 200,000 183,034 401 16,565
The accompanying Notes to the Financial Statement are an integral pmt of this Statement.
12
BUDGET AFTER PAID ORBUDGET MODIFICATION CHARGED ENCUMBERED RESERVED CANCELLED
Telephone & Telegraph 30,000 30,000 28,348 1,652Natural Gas 50,000 45,000 23,297 l,!08 20,595Gasoline 229,028 219,028 165,210 53,818Postage 25,800 25,800 22,014 3,786Copier 10,000 12,000 I0,491 1,038 471
Municipal Clerk/Treasurer 40,000 40,000 40,000Tax Collector 11,000 ll,000 11,000Registrar of Vital Statistics 500 500 500
Salaries and Wages 3,636,907 3,647,907 3,562,203 85,704Other Expenses 4,450,035 4,433,231 3,937,528 138,975 356,728
Social Security System (O.A.S.L) 200,000 200,000 180,768 19,232Police & Firemen's Retire1nent
Pension Fund 50 50 50
TOWNSHIP OF HADDON CURRENT FUND
STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
APPROPRIATIONS EXPENDED
EXHIBIT A-3(Page 3 of 5)
OPERATIONS Within "CAPS"
Utility Expense & Bulk Purchases (continued):
Landfill/Solid Waste Disposal Costs:Disposal Costs 450,000 411,546 280,688 58,052 72,806
Borough of Audobon:
Appropriation Offset By Dedicated Revenues:Code Enforce1nent & Adt11inistration:
Salaries and Wages 1!2,308 1!2,808 112,739 69Other Expenses 21,620 21,620 9,573 848 ll,199
Other Cornmon Operating Functions:Accu1nulated Leave Co111pensation 40,000 40,000 40,000Celebration of Public Events, Anniversaiy
or Holiday - Other Expenses 43,000 43,000 42,651 250 99Senior Citizens Coordinator:
Salaries and Wages 56,098 56,598 56,428 170Other Expenses 6,000 6,000 1,654 28 4,318
Colillllunity Connnunications:Salaries and Wages 32,015 32,015 27,986 4,029Other Expenses 32,500 32,500 19,522 9,035 3,943
Total Operations Within "CAPS"Including Contingent 8,086,942 8,081,138 7,499,731 138,975 442,432
Detail:
Deferred Charges & Statutory Expenditures Municipal Within "CAPS":
Statutory Expenditures: Contnbutions to:
Police & Fireman's RetirementSyste1n of New Jersey 529,531 529,531 529,531
E111ployees Retire111ent Syste1n 189,1!6 189,1!6 189,116
Total DefelTed Charges & Statuto1yExpenditures Within "CAPS" 918,697 918,697 899,415 19,282
Total General Appropriations forMunicipal Purposes Within "CAPS" 9,005,639 8,999,835 8,399,146 138,975 461,714
The acco1npanying Notes to the Financial State111ent are an integral pait of this Statement.
13
Capital Note 71,000 71,000 63,292 7,708Interest on Bonds 393,000 393,000 392,625 375Interest on Notes 182,000 182,000 181,076 924Green Tiust Loan Prognnn:
Loan Repay1nents for Principal & Interes 42,920 42,920 42,920
TOWNSHIP OF HADDON CURRENT
FUNDSTATEMENT OF EXPENDITURES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2012
APPROPRIATIONS EXPENDED
EXHIBIT A-3(Page 4 of S)
OPERATIONS-Excluded fron1 "CAPS"BUDGET AFTER
BUDGET MODIFICATIONPAID OR
CHARGED ENCUMBERED RESERVED CANCELLED
E1nployee Group Health Stonnwater Regulations:
Salaries and Wages
29,000
172,723
29,000
172,723
29,000
170,812 1,911Borough of Audubon Park:
Police Services 380,004 380,004 380,004Public & Private Programs Offset by Revenues:
Clean Collllilunities ActOther Expenses 23,279 23,279 23,279
SFSP Fire District Pay1nent 5,804 5,804Alcohol Education & Rehabilitation Fund 2,914 2,914NJ Historic T1ust Grant 50,000 50,000Econo1nic Development Authority Grant 176,708 176,708Recycling Tonnage Grant - State 43,024 43,024 43,024Safe & Secure Co1111nunities Progra111 64,506 72,901 72,901Drunk Dliving Enforceinent Grant:
Salaries and Wages 1,915 1,915 1,915Other Expenses 1,915 1,915 1,915
Body Annor Fund 1,727 1,727 1,727
Total Operations Excluded from "CAPS" 718,093 961,914 960,003 1,911
Detail:Salaries and Wages 239,144 247,539 172,727 1,911Other Expenses 478,949 714,375 787,276
Capital Improvements-Excluded fron1 "CAPS":Capital hnproven1ent Fund 65,000 65,000 65,000
Total Capital hnprove1nents Excludedfrom "CAPS" 65,000 65,000 65,000
Municipal Debt Service - Excluded Frotn "CAPS":
Payment of Bond Principal 660,000 660,000 656,600 Payment of Bond Anticipation Notes &
3,400
Capital Lease Obligations:Pay1nent of Ptincipal 41,000 41,000 41,000Payment of Interest 18,000 18,000 8,899 9,101
The acc01npanying Notes to the Financial Statement are an integral pait of this Staten1ent
14
TOWNSHIP OF HADDON CURRENT
FUNDSTATEMENT OF EXPENDITURES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2012
EXIUBIT A-3(Page 5 of 5)
OPERATIONS-Excluded fro1n "CAPS"
Total Municipal Debt Service Excluded fro1n "CAPS"
APPROPRIATIONS EXPENDED BUDGET AFTER PAID OR
BUDGET MODIFICATION CHARGED ENCUMBERED RESERVED CANCELLED
1,407,920 1,407,920 1,345,412 62,508
Defen'Cd Charges - Excluded fro1n "CAPS":En1crgency Authorization 5 Years
(40A:4-55)
Total Defencl Charges - Excludedfro1n
"CAPS"
1 IO 272 110,272 110,272
110,272 110,272 1!0 272
Subtotal General Appropriations 11,306,924 11,544,941 10,879,833 138,975 463,625 62,508Reserve For Uncollected Taxes 120,564 120,564 120,564
Total General Appropriations
Appropriation by 40A:4-87Budget
Total
$ 11.427 488 $ 11.665 505 $ 11 000397 s 138 975 $ 463 625 $ 62 508
$ 238,01711 427,488
$ 11 665 505
The acc01npanying Notes to the Financial Statement are an integral pait of this Staten1ent
14
Reserve for Federal & State Gnu1ts - Approp1iated $ 380,187DefetTed Charge - E111ergency Authorization 1!0,272Reserve for Uncollected Taxes 120,564Reilnbursements (575,392)Cash Disburse111ents 10 964,766
Total $ 11.000 3'!/
The accompanying Notes to {be Financial Statement are an integral part of this Statement.
15
Reserve for Animal Con1rol Fund Expenditures B-3 3,191 5,844Due to State of New Jersey B-6 162 7Due Cuffent Fund B-4 219 159
TO\VNSHIP OF HADDON TRUST FUND
COl\fl'ARATIVE STATEMENT OF ASSETS, LIABILITIES, RESERVESA"i"ID FlJI'l;""D BALANCE - REGULATORY
BASIS DECEMBER 31, 2012 AND 2011
EXHIBIT B
ASSETS REFERENCE 2012 2011
Assess1nent Fund:Due from General Capital Fund c $ 450 $ 450
Animal Con{rol Fund:Cash B-1 3,542 5,980Change Fund 30 30
Total Animal Control Fund 3,572 6,010
Other Trust Funds:Cash B-1 883,048 793,903Due Utility Operating Fund D 43,254 728Due Cmrent Fund B-8 86,031 90,249 CommLmity Development Block Grant Receivable B-5 52,905 52,905
Total Other Trost Funds: 1,065,238 937,785
Total - All Funds $ 1,069260 $ 944245
LIABILITIES & RESERVES
Assessment Fund:Deposits on Future Assessments B-2 $ 450 $ 450
Animal Control Fund:
Total Animal Control Fund 3,572 6,010
Other Trost Funds:Payroll Deductions Payable B-7 173,598 78,491Due State of New Jersey- Marriage License Fees B-9 2,092 2,167Due State of New Jersey- Burial License B-9 145 145Reserve For:
Public Defender B-10 14,134 7,109Parking Offenses Adjudication Act B-11 2,086 594State of New Jersey Unemployment Co111pensation B-12 107,876 82,246Community Development Block Grant B-13 44,090 44,142Premiwns Received at Tax Sale B-14 292,300 313,900Disposal of forfeited Property B-15 7,169 7,169Tax Title Lien Redemption B-16 88,952 157,453l\1unicipal Drug Alliance Donations B-17 16,515 11,801Funds Held in Escrow B-18 52,097 54,036En1ployment of Off-Duty Police Officers B-19 109,525 26,757Recreation Trust Fund B-20 3,186 3,223Accumulated leave B-21 60,286 4,000Library B-22 2,403 62,952Maintenance - West BID Signs B-23 4,000 64,557Snow Removal Escrow B-24 59,456 2,457Donations - Civic Celebrations B-25 11,080 7,783Cell Phone Tower Lease B-26 4,400 4,400Election Expense B-27 7,783 2,403M.L.E.T.A. B-28 2,065
Total Other Funds 1,065,238 937,785
Total - All Funds $ I 069,260 $ 944,245
The acco1npanying Notes to the Financial Statement are an integral part of this Statement.
16
TOWNSHIP OF HADDON GENERAL CAPITAL
FUNDCOMPARATIVE STATEMENT OF ASSETS, LIABILITIES,
RESERVES AND FUND BALANCE - REGULATORY BASISDECEMBER 31, 2012 AND 2011
EXHIBIT C
ASSETS REFERENCE 2012 2011
Cash C-1, C-2 $ 732,176 $ 2,238,409Due Fonn New Jersey Road Aid C-15 265,868 75,868Defe1Ted Charges to Future Taxation:
Unfunded C-4 15,407,495 14,416,287Fw1ded C-3 9,646,794 10,337,750
An1ount to be Provided by Lease Payments C-12 339,000Due Cun·ent FlUld A,C-5 187,239 202,010
Total $ 26,239,572 $ 27,609,324
LIABILITIES, RESERVES & FUND BALANCE
General Serial Bonds C-11 $ 9,244,400 $ 9,901,000Green Acres Loan Payable - Crystal Lake Develop1nent C-9 50,619 55,149Green Acres Loan Payable - MacAiihur Tract Acquisition C-10 351,775 381,601Bond Anticipation Notes C-13 11,746,832 11,810,124Improven1ent Authorizations:
Unfunded C-8 3,822,320 4,220,123Fw1ded C-8 473,892 652,985
Reserve for Encumbrances C-8 478,739 191,018Capital hnprovement Fund C-7 24,000 14,500Reserve for Flood Proceeds 25,866 25,866Reserve for DY DEE Develop1nent C-5 3,171Due Trust Assess1nent Fund B 450 450Obligations Under Capital Lease C-12 339,000Fund Balance 17,508 17,508
Total $ 26,239,572 $ 27,609,324
There were bonds and notes authorized but not issued on December 31, 2012 of $3,660,663 and on December 31, 2011 was $2,606,163.
The acco1npanying Notes to the Financial State1nent are an integral pait of this State1nent.
17
Water D-7 2,113 6,091Sewer D-8 3,935 9,316
Liens Receivable D-11 2,055Protested Checks Receivable D-18 2,452 2,452Revenue Accounts Receivable D-10 12,712 12,616
TOWNSHIP OF HADDON WATER-SEWER UTILITY FUND
COMPARATIVE STATEMENT OF ASSETS, LIABILITIES, RESERVES AND FUND BALANCE - REGULATORY BASIS
DECEMBER 31, 2012 AND 2011
EXHIBIT D(Page 1 of 2)
ASSETS REFERENCE 2012 2011
Operating Fund:Cash D-4 $ 802,782 $ 761,657Change Fund - Collector 75 75Due fro1n Bank 2,202 1,670Due from Cu1Tent Fund A,D-9 4,360Due from Water-Sewer Capital Fund D-19 224,303 125,841
Total 1,033,722 889,243
Receivables & Other Assets With Full Reserves: Consumer Accounts Receivable:
Total Receivable & Other Assets With Full Reserves 23,267 30,475
Total Operating Fund 1,056,989 919,718
Capital Fund:Cash D-4 350,350 1,051,196NJEIT Loan Receivable 468,458 592,010Fixed Capital:
Water D-13 9,709,255 9,709,255Sewer D-14 4,758,345 4,758,345
Fixed Capital Authorized & Unco1npleted D-15 13 ,677,663 12,927,663
Total Capital Fm1d 28,964,071 29,038,469
Total Operating & Capital Fund $ 30,021,060 $ 29,958,187
Bonds and Notes authorized but not issued as of December 31, 2012 was $1,557,487 and as of December 31, 2011 was $807,487.
The accon1panying Notes to the Financial Statement are an integral pa1i of this State1nent.
18
TOWNSHIP OF HADDON WATER-SEWER UTILITY FUND
COMPARATIVE STATEMENT OF ASSETS, LIABILITIES, RESERVES AND FUND BALANCE - REGULATORY BASIS
DECEMBER 31, 2012 AND 2011
EXHIBIT D(Page 2 of 2)
LIABILITIES RESERVES & FUND BALANCE REFERENCE 2012 2011
Operating Fund:Liabilities:
Appropriation Reserves D-3 $ 365,773 $ 173,488Reserve for Encumbrances D-17,D-3 25,903 24,634Prepaid Rents 31,881 21,874Rent Overpay1nents 9,642 8,858Accrued Interest on Bonds & Notes D-19 95,443 100,803Due to Trust Other Fund B 43,254 728Due to Current Fund A,D-9 3,056
Subtotal 571,896 333,441
Reserve for Receivables 23,267 30,475Fund Balance D-1 461,826 555,802
Total Operating Fm1d 1,056,989 919,718
Capital Fuud:Serial Bonds D-25 4,960,600 5,359,000Bond Anticipation Notes D-26 1,450,000 1,450,000New Jersey Infrastructure Tn1st - Loan Payable D-26 D-27 5,478,378 5,757,187Improvement Authorizations:
Funded D-24 138,354 315,152Unfunded D-24 1,004,667 958,168
Reserve for Encumbrances D-24 844,306 796,867Capital I1nprove111ent Fund D-12 12,427 12,427Due to Water - Sewer Operating FundReserves for:
D-20 224,303 125,841
Ainortization D-22 14,608,536 13,931,327Defe1Ted Amo1iization D-23 90,263 90,263Repayment of Debt D-30 135,450 225,450
Fund Balance D-21 16,787 16,787
Total Capital Fuud 28,964,071 29,038,469
Total Liabilities, Reserves & Fund Balance $ 30,021,060 $ 29,958,187
The accompanying Notes to the Financial Statement are an integral part of this State1nent.19
TOWNSHIP OF HADDON WATER-SEWER UTILITY FUND
COMPARATIVE STATEMENT OF OPERATIONS AND CHANGE IN OPERATING FUND BALANCE - REGULATORY BASIS FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011
EXHIBIT D-1
Revenue & Other Income Realized:
2012 2011
Fund Balance Appropriated $ 248,670 $ 150,000Rents 3,295,345 3,364,308Miscellaneous 129,032 220,396Capital Surplus Anticipated Other Credits to Inco1ne:
Unexpended Balance of Appropriation Reserves
90,000
152,853
90,000
168,360
Total Tnco1ne 3,915,900 3,993,064
Expenditures: Operating 2,539,170 2,479,040Debt Service 1,054,286 1,067,414Deferred Charges & Statuto1y Expenditures 167,750 156,722
Total Expenditures 3,761,206 3,703,176
Excess/Deficit in Revenue 154,694 289,888
Fund Balance January 1 555,802 415,914Less: Balance Appropriated 248,670 150,000
Fund Balance Decen1ber 31 $ 461,826 $ 555,802
The accompanying Notes to the Financial State1nent are an integral part of this Statement.
20
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
STATEMENT OF REVENUES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
ANTICIPATED REALIZED
EXHIBIT D-2
EXCESS OR (DEFICIT)
Fund Balance Anticipated $ 248,670 $ 248,670 $Rents 3,300,000 3,295,345 (4,655)Capital Surplus 90,000 90,000Miscellaneous 125,000 129,032 4,032
Total $ 3,763,670 $ 3,763,047 $ (623)
ANALYSIS OF REALIZED REVENUE
Rents:Consu1ner Accounts Receivable:
WaterSewer
$ 2,044,316 1,251,029
Total Rents $ 3,295,345
MiscellaneousCollector:
Penalties on Delinquent Accounts $ 9,238Revenue Accounts Receivable 88,991Other
Collected by Water-Sewer Utility Capital Fund:15,180
Interest on lnvest1nentsTreasurer:
8,462
Interest on Investinents 7,161
Total Miscellaneous $ 129,032
-
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-3
Operating:
BUDGET EXPENDED UNEXPENDED ORIGINAL AFTER PAID OR BALANCE BUDGET MODIFICATION CHARGED ENCUMBERED RESERVED CANCELLED
Salaries and Wages $ 835,761 $ 835,761 $ 770,086 $ 65,675Other Expenses 1,696.409 1,696,409 1,389,170 $ 25,903 281,336
Total Operating 2,532,170 2,532,170 2,159,256 25,903 347,011
Accmnulated Absences:Accumulated Absences 7,000 7,000 7,000
Total Accmnulated Absences 7,000 7,000 7,000
Debt Service:
NPay1ncnt of Bond Principal 677,500 677,500 677,209 291 Interest on Bonds & Loans 379,250 379,250 377,077 2,173
Total Debt Service 1,056,750 1,056,750 1,054,286 2,464
Statutory Expenditures:Contribution to:
Public Ernp!oyees' Rctire1nent Systen1 81,050 81,050 81,050Social Security System (O.A.S.I.) 75,000 75,000 56,924 18,076Une1nploy1nent Co1npensation Insurance 10,000 10,000 10,000State Disability Insurance 1,700 1,700 1,014 686
Total Statutory Expenditures 167,750 167,750 148,988 18,762
Total Expenditures $ 3,763 670 $ 3,763,670 $ 3,369,530 $ 25,903 $ 365 773 $
2,464 Budget $ 3,763,670
Total $ 3 763,670
Disbursed $ 3,369,530
Total $ 3 369,530
The acc01npanying Notes to the Financial State1nent are an integral part of this Statc1ncnt.
22
TOWNSHIP OF HADDONGENERAL FIXED ASSETS ACCOUNT GROUP
COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS AND FUND BALANCE - REGULATORY BASIS
DECEMBER 31, 2012 AND 2011
ASSETS 2012
EXHIBIT E
2011
Land $ 4,086,701 $ 4,086,701Building & Improve1nents 3,878,645 3,878,645Equipment & Vehicles 5,220,054 5,220,054
Total $ 13,185,400
FUND BALANCE
Invest1nent in General Fixed Assets $ 13,185,400
The acco1npanying Notes to the Financial State1nent are an integral part of this State1nent.
23
$ 13,185,400
$ 13,185,400
24
TOWNSHIP OF HADDON COUNTY OF CAMDEN
NOTES TO FINANCIAL STATEMENTS. FOR THE YEAR ENDED DECEMBER 31, 2012
************
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 1. Summary of Significant Accounting Policies
A. Reporting Entity
The financial statements of the Township of Haddon, County of Camden, New Jersey ("the Township"), include every board, body, office or commission supported and maintained wholly or in part by funds appropriated by the Township as required by N J.S.A.40A:5-5. The financial statements of the Township do not include the operations of the Board of Education, first aid organization or volunteer fire companies that are subject to separate audits.
Component Unit - The financial statements of the component unit of the Township of Haddon are not presented in accordance with Governmental Accounting Standards Board Statement No. 14. If the provisions of GASES No. 14 had been complied with, the financial statements of the following component unit wonld have been either blended or discretely presented with the financial statements of the Township, the primary government:
Haddon Township Business Improvement District 135 Haddon AvenueWestmont, New Jersey 08108
B. Descriptions of Funds
The accounting policies of the Township confonn to the accounting principles applicable to municipalities, which have been prescribed by the Division of Local Government Services, Depariment of Connnunity Affairs, State of New Jersey, and (the Division"). Such principles and practices are designed primarily for detennining compliance with legal provisions and budgetary restrictions and as a means of reporting on the stewardship of public officials with respect to public funds. Under this method of accounting, the Township accounts for its financial transactions through the following separate funds:
Current Fnnd - resources and expenditures for government operations of a general nature, including Federal and State Grant funds.
Assessment Trust Fund - used to account for the financing of local improvements deemed to benefit the properties against which assessments are levied.
Dog Trust Fund - dog license revenues and expenditures.
Trust Other Funds - sundry deposits held for satisfactory completion of specific work; receipts and disbursements for dedicated purposes.
General Capital Fund - receipt and disbursement of funds for the acquisition of capital facilities, other than those acquired in the Current Fund.
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 1. Summary of Significant Accounting Policies (continued):
Water-Sewer Utility Operating Fund - revenue and expenditures necessary to operate a municipality owned water supply system from user fees.
Water-Sewer Utility Capital Fund - resources, including Federal and State Grants in aid of constrnction, and expenditures for the acquisition of water-sewer capital facilities, other than those acquired through the Water-Sewer Utility Operating Fund, including the status of bonds and notes authorized for said purposes.
General Fixed Asset Account Group - to account for fixed assets used in general govermnentoperations.
C. Basis of Accounting
The accounting policies of the Township confonn to the accounting principles applicable to municipalities, which have been prescribed by the Division of Local Government Services, Department of Connnunity Affairs, State of New Jersey, and (the Division"). The basis of accounting prescribed is the regulat01y, modified accrnal basis of accounting.
Revenues - are recorded as received in cash except for certain amounts, which may be due from the State of New Jersey or the federal govermnent as grants. The amounts recorded as property taxes receivable and consu1ner accounts receivable have not been included in revenue. Ainounts that are due to the municipality which are susceptible of accrnal are recorded as receivables with offsetting reserves.
Expenditures - are recorded on the "budgetary" basis of accounting. Generally expenditures are recorded when an amount is encumbered for goods or services through the issuance of a purchase order in conjunction with tl1e Encwnbrai1ce Accounting Syste1n. Outstanding encmnbrances at December 31 are reported as a liability in the financial statements and constitute part of the Township's statutory Appropriation Reserve balance. Appropriation reserves covering unexpended appropriation balance are automatically created at December 31" of each year and recorded as liabilities, except for amounts which may be cancelled by the governing body. Appropriation reserves are available, until lapsed at the close of the succeeding year, to meetspecific claims, c01mnitments or contracts incurred during the preceding fiscal year. Lapsed appropriation reserves are recorded as income. Appropriations for principal payments on outstanding general capital and utility bonds and notes are provided on the cash basis; interest on general capital indebtedness is on the cash basis.
Foreclosed Property - is recorded in the Current Fund at the assessed valuation when snch property was acquired and is fully reserved.
Interfunds - receivables in the Cnrrent Fund are recorded with offsetting reserves, which are created by charges to operations. Income is recognized in the year the receivables are liquidated. Interfund receivables in the other funds are not offset by reserves.
Inventories of Supplies - the costs of inventories of supplies for all funds are recorded as expenditures at the time individual items are purchased. The costs of inventories are not included on the various balance sheets.
26
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 1. Summary of Significant Accounting Policies (continued):
General Fixed Assets - in accordance with the Technical Accounting Directive No. 85-2, Accounting for Governmental Fixed Assets, as promulgated by the Division, the Township has developed a fixed assets accounting and reporting system. Fixed assets acquired prior to January I, 1987 are based on an inspection and appraisal prepared by an independent finn. All general fixed assets acquired after January I, 1987 are recorded at cost. Capital leases are not reported in the General Fixed Assets.
Fixed assets used in govenunental operations (general fixed assets) are required to be accounted for in the General Fixed Assets Account Group. Public domain ("infrastructure") general fixed assets consisting of certain llnprove1nents otl1er than buildings, such as roads, bridges, curbs and gutters, streets and sidewalks and drainage systems are not capitalized.
All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available.
No depreciation has been provided for the financial statements.
Expenditures for construction in progress are recorded in the Capital Funds until such time as theconstruction is co1npleted and put into operation.
Fixed assets acquired through grants-in-aid or contributed capital has not been accounted for separately.
Utility Fixed Assets - accounting for ntility fund "fixed capital" remains unchanged under the requirements of Technical Accounting Directive No. 85-2.
Property and equipment purchased by the Water-Sewer Utility Fund are recorded in the capital account at cost and are adjusted for disposition and abandomnent. The amounts shown do not purport to represent reproduction costs or current value. Contributions in aid of construction are not capitalized. The balance in the Reserve for Amortization and Deferred Reserve for Amortization accounts in the utility capital fund represents charges to operations for the costs of acquisitions of property, equipment and improvements.
Property and equipment of the Water-Sewer Utility Fund are not depreciated. Principal payments for Water-Sewer Utility debt are recorded as expenditures in the Water-Sewer Utility Statement of Operations.
Comparative Data - Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the Township's financial position and operations. However, comparative data have not been
27
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 1. Summary of Significant Accounting Policies (continued):
presented in each of the statements because their inclusion would make the statements unduly complex and difficult to read.
Budgets - the Township is required by state law to adopt an annual budget for the Current Fund. Each budget is presented in accordance with accounting principles prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey.
The following steps are taken in establishing the budgetary data reflected in the financialstate1nents:
1. Prior to Febrnaiy 1O"' of the budget year the Township introduces a budget, which includes proposed expenditures and financing methods.
2. A public hearing is held 28 days after introduction, after a public hearing the budget may be adopted by the governing body.
Once a budget is approved it may be ainended after November 1, by a resolution adopted by the governing body.
Subsequent Events - The Township has evaluated subsequent events through March 28, 2013, the date the financial statements were available to be issued.
Note 2. Cash and Cash Equivalents:
The Township is governed by the deposit ai1d investment limitations of New Jersey state law. The Deposits and investments held at December 31, 2012, alld reported at fair value are as follows:
Deposits:Demfilld Deposits $9,607,883
Total Deposits $9.607 883
Reconciliation of Statements of Assets, Liabilities, Reserves and Fund Balfillce:Cmrent:
Treasurer $6,835,983Dog Trust 3,542Other Trust 883,049General Capital 732,176Water/Sewer Operating 802,782Water/Sewer Capital 350 351
Total $9.607 883
28
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 2. Cash and Cash Equivalents (continued):
Custodial Credit Risk
Custodial credit risk is the 1isk that, in the event of a bank failure, the District's deposits may not bereturned. The Dist1icts does not have a deposit policy for custodial credit risk. As of December 31, 2012, the District's bank balance of $9,921,809 was insured and collateralized as follows:
Insured $ 250,000Collaterized in the Dishict's Name
Under GUDPA (See Note 3) 9 671 809
Total $ 2.2 2 1 , .809
Note 3. Governmental Unit Deposit Protection Act (GUDPA)
The Township has deposited cash in 2012 with an approved public fund depository qualified under the provisions of the Government Unit Deposit Protection Act. In addition to savings and checking accounts tl1e Township invests 1nonies in ce1iificates of deposits.
The Governmental Unit Deposit Protection Act P.L. 1970, Chapter 236, was passed to afford protection against bankrnptcy or default by a deposit01y. C.17:9-42 provides that no governmental unit shall deposit funds in a public depository unless such funds are secured in accordance with this act. C.17:9-42 provides that every public depository having pnblic funds on deposit shall, as secmity for such deposits, maintain eligible collateral having a market value at least equal to either (I) 5% of the average daily balauce of collected public funds on deposit during the 6 month period ending on the next preceding valuation date (June 30 or December 31) or (2) at the election of the depository, at least equal to 5% of the average balance of collected public funds on deposit on the first, eighth, fifteenth, and twenty-second days of each month in the 6 month period ending on the next preceding valuation date (June 30 or December 31). No pnblic depositmy shall be required to maintain any eligible collateral pursuant to this act as security for any deposit or deposits of any govermuental unit to the extent such deposits are insured by F.D.I.C. or any other U.S. agency which insures public depository funds.
No public depository shall at any time receive and hold on deposit for any peiiod in excess of 15 days public funds of a govermnental unit(s) which, in the aggregate, exceed 75% of the capital funds of the depository, unless such depository shall, in addition to the secmity required to be maintained nuder the paragraph above, secure such excess by eligible collateral with a market value at least equal to 100% of such excess.
In the event of a default, the Cornmissionei·of Banking within 20 days after the default occmrnnce shall ascertain the amom1t of public funds·on deposit in the defaulting depository and the amounts covered by
Bonds & Notes Water-Sewer Utility:
$21,393,626 $22,147,874 $22,936,945
Bonds & Notes 6,410,600 6,809,000 7,236,301hlfrastructure Trust LoanBonds Issued by Another Public Body
5,478,378 5,757,187 6,031,301
29
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 3. Governmental Unit Deposit Protection Act (GUDPA) (continued):
federal deposit insurance and certify the amounts to each affected govenunental nnit. Within 10 days after receipt of this certification, each unit shall furnish to the Cmmnissioner verified statements of its public deposits. The Cmmnissioner shall ascertain the amount derived or to be derived from the liquidation of the collateral maintained by the defaulting depositmy and shall distribute such proceeds pro rata among the governmental units to satisfy the net deposit liabilities to such nnits.
If the proceeds of the sale of the collateral are insufficient to pay in full the liability to all affected governmental units, the Commissioner shall assess the deficiency against all other public depositories having public funds on deposit detennined by a fornmla detennined by law. All sums collected by the Co1mnissioner shall be paid to the gove1mnental units having deposits in the defaulting depository in the proportion that the net deposit liability to each such govennnental nnit bears to the aggregate of the net deposit liabilities to all such govennnental m1its.
All public depositories are required to furnish infonnation and reports dealing with public funds on deposit every six months, Jnne 30th and December 31st, with the Co1mnissioner of Banking. Any public depositmy which refuses or neglects to give any infmmation so requested may be excluded by the Co1mnissioner from the right to receive public funds for deposit until such time as the Cmmnissioner shall acknowledge that snch depository has fmnished the infonnation requested.
Upon review and approval of the Certification Statement that the public depository complies with statutmy requirements, the Conm1issioner issues fonns approving the bank as a municipal depository. The Municipality should request copies of these approval fonns se1niammally to assure that all depositories are complying with requirements.
Note 4. Capital Debt
Snmmary of Municipal Debt Year 2012 Year 2011 Year 2010
Issued General:
Guaranteed by the Township 339 000 378 000
Total Issued 33 282 604 35 053 061 36 583
146
Bonds & Notes Water-Sewer Utility:
$3,660,663 $2,606,163 $1,499,413
Bonds & Notes 1 557 487 807 487 217 487
Total Authorized But Not Issued 5 218 150 3 413 650 1 716 900
Total Issued & Authorized but not Issued 38 500 754 38 466 711 38 300 046
Deductions:
30
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 4. Capital Debt (continned):
Authorized but not Issued Year 2012 Year 2011 Year 2010General:
Funds Temporarily Held to Pay Notes:General 497,382
Bonds Issued by Another Public BodyGuaranteed by the Township 339,000 378,000
Self-Liquidating Debt 13 446 465 13 373 674 13 107 688
Total Deductions 13 446 465 13 712 674 13.983 070
Net Debt $25,054,289 $24,754 037 $24 316.,976
The Local Bond Law governs the issuance of bonds and notes to finance general municipal capital expenditures. Bonds are retired in serial installments within the statutory period of usefulness. Bonds issued by the Township are general obligation bonds, backed by the full faith and credit of the Township. Bond anticipation notes are issued to temporarily finance capital projects, prior to the issuance of serial bonds. The tenu of the notes cannot exceed one year but the notes may be renewed from time to time for a period not exceeding one year. All such notes must be paid no later than the tenth am1iversary of the date of the original note. The State of New Jersey also prescribes that on or before the third am1iversary date of the original note a payment of at least equal to the first legally payable installment of the bonds in anticipation of which such notes were issued be paid. A second legal instalhnent must be paid if the notes are to be renewed beyond the fourth armiversary date of the original issuance and so on. Tax anticipation notes are issued if the cash on hand is not sufficient to cany on nonnal operations of the municipality at any time during the year. Such notes are authorized by a resolution adopted by the governing body.
·A. Schedule of Annual Debt Service for Principal and Interest for Bonded Debt Issued and Outstanding as follows:
31
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 4. Capital Debt (continued):General Water-Sewer Utility
Year Principal Interest Principal Interest Total
2013 $678,000 $368,183 $690,351 $340,856 $2,077,3902014 725,150 342,648 707,591 319,694 2,095,0832015 734,450 314,934 707,528 298,080 2,054,9922016 672,500 286,952 661,614 276,356 1,897,4222017 709,650 260,584 693,243 255,806 1,919,2832018-2022 3,154,650 889,025 3,250,281 949,702 8,243,6582023-2028 2 570 000 286 000 3 728 370 403 775 6 988 145
Total $ 2 244 4QQ $2,:Z48 326 $10 438 278 $2 844 268 $25.275 2:Z2
B. Schedule of Annual Debt Service for Principal and Interest for Long-Term Loan for Crystal Lake Development as follows:
GENERAL Year Principal Interest Total2013 $4,621 $989 $5,6102014 4,713 897 5,6102015 4,808 802 5,6102016 4,905 705 5,6102017 5,004 607 5,6102018-2022 26 567 1 483 28 050
Total $50 617 $5 482 $56 100
c. Schedule of Annual Debt Service for Principal and Interest for Long-Term Loan for MacArthur Tract Acquisition as follows:
GENERAL GRANT TOTALYear Principal Interest Total ALL DEBT
2013 $30,426 $6,884 $37,310 $2,120,3102014 31,036 6,273 37,309 2,138,0032015 31,661 5,649 37,310 2,097,9122016 32,298 5,012 37,310 1,940,3422017 32,947 4,363 37.310 1,962,2032018-2022 174,937 11,612 186,550 8,458,2582023-2028 18 470 185 18 655 7 006 800
Total $35 l.'.Z76 $39 978 $32!,754 $25 723 8_28
32
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 5. Accrued Compensated Absences
The Township has established a Compensated Absences Trust Fund to set aside funds for future payments of compensated absences. At December 31, 2012 the balance of the fund was $60,286. It is estimated that, at December 31, 2012, accrued benefits for compensated absences are valued at$1,314,523.
Note 6. Fund Balances Appropriated
The municipal budget for 2013 has been introduced and, therefore, the fund balances at December 31, 2012, which are appropriated and inclnded as anticipated revenues in the year ending December 31, 2012 are as follows:
Ctment FundWater-Sewer Utility Operating Fund
$1,320,000 429,153
Note 7. Deferred Charges to be Raised in Succeeding Budgets
Certain expenditures are required to be deferred to budgets of succeeding years. At December 31, 2012, the following defened charges are shown on the statement of assets, liabilities, reserves and fund balance of the following fund(s):
Current Fund:
Balance Dec. 31, 2012
2013 Budget Approp1iation
Special Emergency Authmizations $220,544 $110,272
The appropriations in the 2013 bndget as introdnced are not less than that required by the statues.
Note 8. Joint Insnrance Pool
The Township of Haddon is a member of the Camden County Mnnicipal Joint Insurance Fund. The Fund provides its members with the following coverage:
Workers' Compensation & Employer's Liability General & Automobile LiabilityPublic Officials LiabilityCasualty & Crime CoverageProperty - Blanket Building & Grounds
Contributions to the Fund, including a reserve for contingencies, are payable in two installments and are based on actuarial assumptions detennined by the fund's actuary. The connnissioner of Insurance may
33
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 8. Joint Insurance Pool (continued):
order additional assessments to supplement the Fund's claim, loss retention or administrative accounts to assure the payment of the Fund's obligations.
The Township's agreement with the pool provides that the pool will be self-sustaining through member premiums and will reinsure through cmmnercial insurance for claims in excess of $500,000 for each insured event.
The Fund publishes its own financial report for the year ended December 31, 2012, which can be obtained from:
Camden County Municipal Joint Insurance Fund Park 80 West, Plaza OneSaddle Brook, New Jersey 07663
Note 9. New Jersey Unemployment Compensation Insurance
The Township has elected to fund its New Jersey Unemployment Compensation Insurance under the "Benefit Reimbursement Method". Under this plan, the Township is required to reimburse the New Jersey Unemployment Trust Fund for benefits paid to its fonner employees and charged to its account with the State. The Township is billed quarterly for amounts due to the State. The following is a smmnary of Township contributions, reimbursements to the State for benefits paid and the ending balance of the Township's trust fund for the cmrent and previous two years:
Township Township AmountYear Contributions Reimbursed Balance
2012 $57,754 $32,124 $107,8762011 57,725 36,368 82,2462010 78,522 45,595 60,889
Note 10. Pension
A. Plan Description
The Township of Haddon contributes to a cost-sharing multiple-employer defined benefit pension plan, Public Employees' Retirement System (P.E.R.S.) and Police and Fireman's Retirement System (P.F.R.S.), administered by the State of New Jersey, Division of Pensions and Benefits. It provides retirement, disability, medical and death benefits to plan members and beneficiaries. The State of New Jersey P.E.R.S. and P.F.R.S. progran1s were established as of January 1, 1955 and July 1, 1944, respectively. The programs were established m1der the provisions of N J S.A.43: 15A and N J S.A.43:16A which assigns authority to establish and amend benefit provisions to the plan's board of trustees.P.E.R.S. and P.F.R.S. issues a publicly available financial report that includes financial statements and
34
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 10. Pension (continued):
required supplementaiy infonnation. Tirnt report may be obtained by writing to: State of New Jersey, Department of the Treasury, Division of Pensions and Benefits, P.O. Box 295, Trenton, NJ 08625, or calling (609) 984-1684.
B. Funding Policy
The System's designated purpose is to provide retirement, death, disability and medical benefits to ce1iain qualified members. Membership in the System is mandatory for substantially all full-time employees of the State of New Jersey or any couoty, municipality, school district or public agency, provided the employee is not required to be a member of another state-administered retirement system or other state or local jurisdiction. The System's Board of Trnstees is primaiily responsible for the administration of the System according to the State of New Jersey administrative code, all obligations of the System will be assumed by the State of New Jersey should the System tenninate.
Plan members are required to contribute 6.5%, effective October 1, 2011, of their annual covered salary for P.E.R.S, 10%, effective October 1, 2011, of their annual covered salary for P.F.R.S. and the Township is required to contribute at an actuaiially detennined rate. The contribution requirements of plan members and the Township are established and may be amended by the plan's board of trnstees. The Township of Haddon's contributions to P.E.R.S. for the years ending December 31, 2012, 2011 and 2010 were $189,116, $180,983 and $229,491, respectively, equal to the required contributions for each year and to P.F.R.S. for the years ending December 31, 2012, 2011 and 2010 were $529,531, $682,052 and $567,603, respectively, equal to the required contributions for each year.
Note 11. Deferred Compensation
The Township offers its employees a Deferred Compensation Plan in accordance with Internal Revenue Code Section 457 which has been approved by the Director of the Division of Local Govennnent Services. The Plan, available to all full time employees at their option, pennits employees to defer a portion of their salary to future years. The deferred compensation is not available to paiiicipants until tennination, retiren1ent, death or unforeseeable einergency.
Amounts deferred under Section 457 plans must be held in trnst for the exclusive benefits of participating employees and not be accessible by the Township or its creditors. Since the Township does not have a fiduciaiy relationship with the Plan, the balances and activities of the Plan are not reported in the Tovmship's financial state1nents.
Note 12. Contingent Liabilities
State and Federal Financial Assistance
The Township receives fmancial assistance from the State of New Jersey and the U. S. Government in the fonn of grants. Entitlement to the funds is generally conditional upon compliance with tenns and conditions of the financial assistance agreements and applicable regulations, including tl1e expenditure of
35
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 12. Contingent Liabilities (continued):
the funds for eligible purposes. Substantially all grants, entitlements and cost reimbursements are subject to financial and compliance audits by grantors.
As a result of these audits, costs previously reimbursed could be disallowed and require repayment to the grantor agency. As of December 31, 2012, the Township estimates that no material liabilities will result from such audits.
Note 13. Interfunds Receivables and Payables
The following interfunds remained as of December 31, 2012:
Fund Debit Credit
Current Fund $ 219 $ 744,334Federal & State Grant Fund 466,704Assessment Fund 450Animal Control Fund 219Trust Other Funds 129,285General Capital Fund 187,239 450Utility Operating Fund 228,663 43,254Utility Capital Fund 224 303
Total $1 OJ 2 i6l2 $1 012 56Q
The purpose of these interfunds is short-tenn borrowings.
Note 14. Post-Retirement Health Benefits
Haddon Township provides post-employment medical and prescliption drug coverage to eligible retired employees and their spouses. Once Medicare age is attained by either tl1e retired employee or the spouse in the case of spousal coverage, Medicare is primary and the Township provides supplementary medical insurance. For Department of Public Works employees, the spouse of ten years prior to retirement will continue to receive medical benefits until age 62 and Medicare becomes p1imaiy insurance. Haddon Township pays 100% of the insurai1ce cost for the retiree.
Haddon Township's annual Other Post-Employment Benefit cost is calculated based on the Annual Required Contribution. The actuarial cost method used to detennine the Plai1's funding requirements is tile "Unit Credit" method. Under this method, an actuarial accrued liability is detennined as the present value of the eai11ed benefits, which is allocated to service before the current plan year. The Plan is currently unfunded. The unfunded actuaiial liability is an10rtized over thirty years. The following table
36
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 14. Post-Retirement Health Benefits (continued):
shows the changes in Haddon Township's annual Other Post-Employment Benefit cost for the year, the amount actually contributed to the Plan and changes in their net Other Post-Employment Benefit obligation to the plan:
Annual Required ContributionInterest on Net Other Post-Employment Benefit
$ 1,342,774
Adjustment to Annual Required Contribution 1,342,774
Annual Other Post-Employment Benefit Contributions l\1adeIncrease inNet OPEB Obligation
Net OPEB, Beginning of Year 17 435 568
Net OPEB, End of Year $ 18 778 342
Haddon Township's annual Other Post-Employment Benefit cost, the percentage of annnal Other Post Employment Benefit cost contributed to the Plan, and the net Other Post Employment Benefit obligation (OPEB) for the year ending December 31, 2012 is as follows:
YEARENDED
ANNUALOPEB COST
PERCENTAGE CONTRIBUTED
NET OPEB OBLIGATION
12/31/12 $1_,3_42.774 $18 778 342
Actuarial assmnptions were used to value the post-retirement medical liabilities. Actuarial assumptions were based on the actual experience of the covered group, to the extent that creditable experience data was available, with an emphases on expected long-tem1future trends rather than giving undue weight to recent past experience. The reasonableness of each actuarial assmnption was considered independently based on its own me1its, its consistency with each other assumption, and the combined impact of all assu1nptions.
Two economic assumptions used in the valuation are the discount rate and the health care cost trend rates. The econo1nic assu111ptions are used to account for changes in the cost of benefits over tilne and to discount future benefit payments for the time value of money.
The investment return assumption (discount rate) should be the estimated long-tenn investment yield on the investments that are expected to be used to finance the payments of benefits. The investments expected to be used to finance the payments of benefits would be plan assets for funded plans, assets of the employer for pay-as-you-go plans, or a proportionate combination of the two for plans that being partially funded. We assumed a disconnt rate of 5.0 percent for purposes of developing tl1e liabilities and Annual Required Contribution on the basis that the Plan would not be funded. We based medical claims on an armual average claims cost of approximately $18,743 per covered retiree for family coverage and$7,497 for single coverage prior to age 65. For retirees age 65 and over we have utilized an ammal
37
TOWNSHIP OF HADDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
Note 16. Post-Retirement Health Benefits (continued):
average claims cost of approximately $ll,095 per covered retiree for family coverage and $4,438 for single coverage. For those retirees without prescription drug coverage, we have utilized an annnal average claims cost of approximately $14,664 per covered retiree for family coverage and $5,866 for single coverage prior to age 65. For retirees age 65 and over we have utilized an annual average claims cost of approximately $7,077 per covered retiree for family coverage and $2,831 for single coverage. We assumed health care costs would increase annually at a rate of 7%.
Haddon Township currently has twenty-eight eligible retired employees receiving retirement benefits. The net Other Post-Employment Benefit obligation to Haddon Township to provide benefits to the retirees for the year ended December 31, 2012, was $18,778,342.
38
SUPPLEMENTARY EXHIBITS
CURRENT FUND
40
TOWNSHIP OF HADDON CURRENT FUND
SCHEDULE OF CURRENT CASH - TREASURER FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-4
CURRENT STATE & FEDERAL
Balance Dece1nber 31, 2011 $ 4,375,820 $
Increased by Receipts:Collector $ 42,951,995Revenue Accounts Receivable 1,529,143New Jersey State Training Fees 13,056Reserve for State Tax Appeals 10,000Reserve for Salt & Sand 19,500Due :fio1n Water & Se\ver Operating 3,981 Due Fro1n Ani1nal Control Trust 31Due From Trust Other 1,449Due fiom Current Fund $ 67,020Matching Funds for Grants 18,705Federal & State Grants Unappropriated 48,035Federal & State Grants Receivable 300,862
Subtotal 44,529,155 434,622
Total 48,904,975 434,622
Decreased by Disbursements:2012 Appropriations 10,389,3742011 Appropriation Reserves 150,800Change Fund 75County Taxes 7,717,851Due County for Added & 01nitted Taxes 17,504 Fire District Taxes Payable 1,567,534Local District School Tax 21,730,093 Business Ilnprove1nent Distr·ict Taxes 150,918New Jersey State Training Fees 8,855Reserve for Revaluation 2,593Special E1nergency Note Payable 110,272Tax Overpay1nents 65,920Due from CCMUA 71,478Matching Funds for Grants 18,705Due from Federal & State Grant Fund 67,020 Reserve for Federal & State Grant
Funds Appropriated 434,622
Total Disburse1nents 42,068,992 434,622
Balance December 31, 2012 6 835,983 $
41
TOWNSHIP OF HADDON CURRENT
FUNDSCHEDULE OF CURRENT CASH -
COLLECTOR FOR THE YEAR ENDED DECEMBER 31, 2012
Balance December 31, 2011
EXHIBIT A-5
$
Increased by:Taxes Receivable $ 40,690,282Tax Title Liens 69,650Tax Overpay1nents 96,120Interest & Costs on Taxes 109,6952013 Prepaid Taxes 276,262Due fro1n State of New Jersey Senior Citizen &
Veterai1Deductions 196,068Consolidated Municipal Property Relief Aid 144,635Energy Receipts Tax 1,117,580Miscellaneous Revenue not Anticipated 251,703 42,951,995
Subtotal 42,951,995
Decreased by:Pay1nents to Treasurer 42,951,995
Balance Dece1nber 31, 2012 $
The Collector n1aintains no bank account. All funds are deposited directly to the Treasurer's bank account.
SCHEDULE OF CHANGE FUNDSFOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-6
Office:Municipal Cou1i $ 75Crystal Lake Pool Operations 125To\vnship Clerk (Central Cashie1ing) 150Tax Collector (Central Cashiering) 300
Total $ 650
General Purpose Tax $ 39,690,375Fire District Taxes 1,304,341Special District Taxes 150,918Added & 01nitted Taxes 46.l l 3
Total $ 41 191.747
TAX LEVY:Local District School Tax County Taxes:
$ 21,730,093
General County Tax $ 9,764,786County Library Tax 630,032County Open Space 277,041Due County for Added & Omitted Taxes 11.532
10,683,391
Fire District Taxes:Fire District No. I 1,092,787Fire District N-o. 2 28,180Fire District No. 3 35,071 1,304,341Fire District No. 4 148 303
Special District Taxes:Haddon Township Business lmprove1nent 150,918
Local Tax for Municipal Purposes 7,288,004
TOWNSHIP OF HADDON CURRENT
FUNDSCHEDULE OF TAXES RECE N ABLE AND ANALYSIS OF PROPERTY TAX
LEVY FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-7
BALANCE DECEMBER 31, 2012
DUE FROM ADDED COLLECTED STATE OF
TRANSFER TO TAX
BALANCE DECEMBER 31,
YEAR 2011 LEVY TAXES 2011 2012 NEW JERSEY CANCELLED TlTLE LIENS 2012
Arrears $ 14,825 $ 3,199 $ 5,834 $ 12,1902010 6,129 6,1292011 16 81 6 4 785 $ 4.932 $ 24 510 2 023
Total 37,770 3,199 7,178 (4,932) 24,510 14,2132012 $ 41.145.634 42.914 $ 232.553 40,683.104 198 104 51 414 $ 13.179 10 194
Total $ 37 770 $ 41.145.634 $ 4fi.! 13 $ 232.553 $ 40.690.282 $ 193.172 $ 75 924 $ j3 119 $ 24.4Q1
.,,,""'
ANALYSIS OF 2012 PROPERTY TAX LEVY
Add: Addition Tax Levied 35.000 7,323.004
Total $ 41.191 1
47
TOWNSHIP OF HADDON CURRENT FUND
SCHEDULE OF TAX TITLE LIENSFOR THE YEAR ENDED DECEMBER 31,
2012
EXHIBIT A-8
Balance December 31, 2011
Increased by:
$ 85,997
Transfers fro1n Taxes Receivable $ 13,179Interest & Costs on Taxes 602 13,781
Subtotal 99,778
Decreased by:Lien Payn1ents Received 69,650
Balance Dece1nber 31, 2012 $ 30,128
EXHIBIT A-9 SCHEDULE OF DUE FROM STATE OF NJ VETERAN AND SENIOR CITIZEN DEDUCTIONS
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Dece1nber 31, 2011
Increased by:
$ 73,201
Senior Citizen & Veterans Deductions Per Tax Billings $ 195,750Deductions Allowed by Tax Collector - 2012 Taxes 5,250Deductions Disallowed by Tax Collector - 2012 Taxes (2,896)Deductions Disallowed by Tax Collector - 2011 Taxes (4,932)Prior Year Adjustlnent - Disallowed (17,562) 175,610
Subtotal 248,811
Decreased by: Receipts - Collector
196,068
Balance Dece1nber 31, 2012 $ 52.743
43
$ 25,500 $ 25,50027,775 27,775
247,430 247,430
$ 23,589 236,835 246,263 $ 14,16112,549 12,549
232,499 232,499
164,291 164,291101,658 101,65830,369 30,369
380,004 380,004
TOWNSHIP OF HADDON CURRENT FUND
SCHEDULE OF REVENUE ACCOUNTS RECEIVABLE FOR THE YEAR ENDED DECEMBER
31, 2012
EXHIBIT A-10
Clerk:Licenses:
Alcoholic BeveragesOtherFees & Pennits
Municipal Court:Fines & Costs
Parking MetersOperation of Crystal Lake Unifonn Construction Code Fees
& PennitsInterest on Deposits Unifonn Fire Safety ActBorough of Audubon Park - Police
Protection Services
BALANCEDECEMBER 31, ACCRUED IN
2011 2012
BALANCE DECEMBER 31,
REALIZED 2012
Pay1nent in Lieu of Taxes 60,805 60,805
Total $ 23,589 $ 1 519 715 $ 1 529 143 $ 14,161
44
45
TOWNSHIP OF HADDON CURRENT
FUNDANALYSIS OF FORECLOSED PROPERTY FOR THE YEAR ENDED DECEMBER 31,
2012
Balance December 31, 2012 & 2011
SCHEDULE OF DEFERRED CHARGES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-11
$ 1 894.100
EXHIBIT A-12
BALANCEDECEMBER 31, ADDED IN
2011 2012
RAISED IN 2012
BUDGET
BALANCE DECEMBER 31,
2012
Special E1nergency
E1nergency Authorization - Revaluation
Total
$ 330,816 $ 110,272 $ 220,544
$ 330 816 $ $ 110 272 $ 220 544
Other Expenses Human Resources:
Salaries and Wages
$ 65
114
$ 65
114
$ 65
114Other Expenses 62 62 62
Mayor & Co1mnissioners:Salaries and Wages 356 356 356Other Expenses 899 899 $ 80 819
Municipal Clerk:Other Expenses $ 161 924 4,185 446 3,739
Registrar of Vital Statistics:Salaries and Wages 57 57 57Other Expenses
Financial Adtninistr·ation:450 450 252 198
Salaries and Wages 91 91 91Other Expenses 212 2,523 2,735 90 2,645
Revenue Ad1ninishation (Tax Collector):Salaries and Wages 100 100 100Other Expenses 224 3,697 3,921 172 3,749
Tax Assessor:Salaries and Wages 41 41 41Other Expenses 263 263 263
Legal Services:Other Expenses 11,609 11,609 11,574 35
Municipal Court:Salaries and Wages 12,231 12,231 12,231Other Expenses 790 295 1,085 788 297
Public Defender:Salaries and Wages 269 269 269
Salaries and \Vages 6,974 6,974 6,974Other Expenses 534 534 273 261
Rent Control Conm1ission:Salaries and Wages 2,738 2,738 2,738Other Expenses 636 636 636
46
TOWNSIIlP OF HADDON CURRENT FUND
SCHEDULE OF 2011 APPROPRIATION RESERVES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-13(Page 1 of 3)
OPERATIONS
BALANCEDECEMBER 31, 2011 BUDGET AFTER
ENCUMBERED RESERVED MODIFICATION
PAIDOR
CHARGEDBALANCE
LAPSED
General Government Functions:General Ad1ninistration:
Engineering Services & Cost:Other Expenses 8,065 8,065 8,065
Economic Develop1nent:Other Expenses 584 584 14 570
Land Use Administration:Planning Board:
Code Enforcen1ent & Adn1inistration:
Insurance:General Liability 803 803 803Disability Insurance 213 213 213Workers Compensation 197 197 197E1nployee Group Health 734 45,734 43,563 2,171
Salaries and Wages 52,186 52,186 52,186Other Expenses 4,316 25,685 10,601 2,942 7,659
Office of E111ergency Manage1nent:Salaries and Wages 1,838 1,838 1,838Other Expenses
Unifonn Fire Safety Act:250 250 250
Salaries and Wages 2,965 2,965 2,965Other Expenses 205 1,250 1,455 254 1,201
Municipal Prosecutor: Salaries and
269 269 269
Salaries and Wages 508 508 508Other Expenses 5,892 20,360 16,252 1,730 14,522
Salaries and Wages 21 21 21Other Expenses 2,366 5,039 7,405 1,250 6,155
Solid Waste Collection:Other Expenses 10,563 7,372 17,935 9,720 8,215
Building & Grounds:Other Expenses
Vehicle Maintenance:2,532 9,482 12,014 640 11,374
Other Expenses 9,768 20,534 15,302 9,282 6,020Community Services Act:
Other Expenses 3,202 6,502 6,435 67
47
TOWNSHIP OF HADDON CURRENT FUND
SCHEDULE OF 2011 APPROPRIATION RESERVES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-13(Page 2 of3)
BALANCE PAJD DECEMBER 31, 2011 BUDGET AFTER OR BALANCE
OPERATIONS ENCUMBERED RESERVED MODIFICATION CHARGED LAPSED
Public Safety Functions:Police:
Public Works Functions:Streets & Roads Maintenance:
Maintenance of Traffic Lights:Other Expenses 454 8,815 9,269 717 8,552
Shade Tree:
Health & Human Services:Environmental Conunission:
Other Expenses 188 141 329 288 41Ani1nal Control Progra1n:
Other Expenses 790 22 1,075 1,075Park & Recreation Functions:
Crystal Lake Pool:Salmies and Wages 5,347 347 347Other Expenses 1,869 13,609 15,215 1,304 13,911
Concession Stand:Other Expenses
Parks & Playgrounds:2,500 2,500 2,500
Other Expenses 326 30 556 160 396
Street Lighting 34,452 28,252 18,144 10,108Telephone 944 2,444 2,327 117Natural Gas 14,125 14,125 2,462 11,663Gasoline 602 3,102 2,799 303Postage 294 294 294Copier 739 807 1,546 440 1,106
Landfill/Solid Waste Disposal Costs Appropriation Offset By
63,529 64,744 128,273 21,817 106,456
Salaries and Wages 1,282 1,282 1,282Other Expenses 2,406 2,406 1,506 900
Salaries and Wages 40 40 40Other Expenses 4,347 4,347 434 3,913
48
TOWNSIDP OF HADDON CURRENT
FUNDSCHEDULE OF 2011 APPROPRIATION
RESERVES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-13(Page 3 of3)
BALANCE PAIDDECEMBER 31, 2011 BUDGET AFTER OR BALANCE
OPERATIONS ENCUMBERED RESERVED MODIFICATION CHARGED LAPSED
Utility Expense & Bulk Purchases:
Dedicated Revenues:Code Enforce1nent & Adminisration:
Other Common Operating Functions: Celebration of Public Events, Anniversary or Holiday
Other Expenses 991 991 517 474Senior Citizen Coordinator:
Conununity Conm1unications:Salaries and Wages 454 454 454Other Expenses 25,382 25,382 7,305 18,077
Total General Appropriations forMunicipal Purposes Within "CAPS" 104,924 387,819 492,743 150,800 341,943
Deferred Charges & Statutory Expenditures Municipal \Vithin "CAPS":
Statutory Expenditures: Contributions to:
Social Security System(O.A.S.I.) 9,634 9,634 9,634
Total Defen-ed Charges & StatutoryExpenditures Within "CAPS" 9,634 9,634 9,634
Operations Excluded Fron1"CAPS": Stormwater Regulations:
Salary & Wages 12,272 12,272 12,272 Borough of Audobon Park:
Police Services 18,000 18,000 18,000
Total Operations Excludedfrom "CAPS" 30,272 30,272 30,272
Grand Total All Appropriations $ 104,924 $ 427,725 $ 532,649 $ 150,800 s 381,849
49
TOWNSHIP OF HADDON CURRENT
FUNDSCHEDULE OF RESERVE FOR ENCUMBRANCES
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-14
Balance, Dece1nber 31, 2011 $ 104,924
Increased by:2012 Appropriations 138 975
Subtotal 243,899
Decreased by:Transferred to 2011 Appropriations Reserves 104,924
Balance, December 31, 2012 $ 138 975
SCHEDULE OF PREPAID TAXESFOR THE YEAR ENDED DECEMBER 31,
2012
EXHIBIT A-15
Balance, December 31, 2011 (2012 Taxes)
Increased by:
$ 232,553
Collections - 2013 Taxes 276,262
Subtotal 508,815
Decreased by:Application to 2012 Taxes Receivable 232,553
Balauce, December 31, 2012 (2013 Taxes) $ 276 262
SCHEDULE OF TAX OVERPAYMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-16
Balance, Dece1nber 31, 2011
Increased by:
$ 3,027
Overpay1nents in 2012 96,120
Subtotal 99,147
Decreased by:Refunds 65,920
Balance, Dece1nber 31, 2012 $ 33 227
50
Fire Dish-ict No. I $ 267,687 $ 1,092,787 $ 1,355,980Fire District No.2 28,180 28,180Fire District No.3 35,071 35,071Fire District No.4 148,303 148,303
TOWNSHIP OF HADDON CURRENT FUND
EXHIBIT A-17
SCHEDULE OF DUE TO STATE OF NJ UNIFORlV! CONSTRUCTION CODE - TRAINING FEES FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ (4,201)
Increased by:Receipts - Collector 13,056
Subtotal 8,855
Decreased by:Disburseinents 8,855
Balance, Dcccinber 31, 2012 $
SCHEDULE OF LOCAL SCHOOL DISTRICT TAX FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-18
Balance, Dece1nber 31, 2011 $ 52
Increased by:Levy - Calendar Year 2012 21,730,093
Subtotal 21,730, 145
Decreased by:Disburseinents 21,730,093
Balance, Dece1nber 31, 2012 $ 52
SCHEDULE OF FIRE DISTRICT TAXES PAYABLE FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-19
BALANCE DECEMBER 31,
20112012
LEVY
CANCEL BALANCE PRIOR YEAR DECEMBER 31,
DISBURSEMENTS RECEIVABLE 2012
$ 4,494
Total $ 267,687 $ 1,304,341 $ 1,567,534 $ $ 4,494
51
TOWNSHIP OF HADDON CURRENT FUND
SCHEDULE OF COUNTY TAXES PAYABLE FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-20
Balance Deceinber 31, 2011
Increased by:
$ -
County Tax $ 9,764,786County Library Tax 630,032County Open Space Tax 277,041 10,671,859
Subtotal 10,671,859
Decreased by: Disburse1nents 7,717,851
Balance Dece1nber 31, 2012 $ 2 954 008
EXHIBIT A-21 SCHEDULE OF DUE COUNTY FOR ADDED AND OMITTED TAXES
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Deceinber 31, 2011:Added Taxes $ 17,4710111itted Taxes 33 $ 17,504
Increased by:County Share of 2012 Added Taxes 11,532
Subtotal 29,036
Decreased by:Disburse1nents 17,504
Balance Dece1nber 31, 2012: $ 11 532
EXHIBIT A-22 SCHEDULE OF BUSINESS IMPROVEMENT DISTRICT TAXES PAYABLE
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Deceinber 31, 2011 $ -
Increased by:Receipts - Collector 150,918
Subtotal 150,918
Decreased by:Transfer to Business hnprove1nent District 150,918
Balance Dece1nber 31, 2012 $ -
52
TOWNSHIP OF HADDON CURRENT FUND
EXHIBIT A-23
SCHEDULE OF DUE TO CAMDEN COUNTY MUNICIPAL UTILITY AUTHORITY FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Decen1ber 31, 2011 $ 71,478
Decreased by: Disburse1nents 71,478
Balance Decen1ber 31, 2012
FEDERAL AND STATE GRANTS FUNDSCHEDULE OF FEDERAL, STATE AND OTHER GRANTS RECEIVABLE
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-24
BALANCE BALANCEDECEMBER 31, DECEMBER 3l ,
2011 ACCRUED RECEIVED 2012State Grants:
Seatbelt Enforcement Grant Clean Collllnunities Grant
$ 400$ 23,279 $ 23,279
$ 400
Body Armor Fund l ,727 1,727Dnu1k Driving Enforcement Grant 3,830 3,830Drug Awareness & Resistance Education:
Municipal Alliance Program 26,863 6,176 20,687Safe & Secure Co1nn1unities Grant lll,605 60,000 111,605 60,000Delavvare Valley Estuary Grant 25,000 25,000Alcohol Education & Rehabilitation FundEnvironn1ental Co1mnissioner -
8,495 2,914 2,914 8,495
DEP Grant 210 210Econo1nic Development Authority
Grant 373,038 176,708 146,888 402,858Pedestrian Safety Grant 3,480 3,480Green Conununities Grant 3,000 3,000CSIP Shade Tree Progran1 280 280NJ Historic Trust 50,000 31,275 18,725Recycling Tonnage Grant 43,024 43,024
Total State Grants 552,371 361,482 327,694 586,159
Other Grants:Ca111den County Open Space Grant
Saddler Woods Project 2,004 2,004Ca111den Com1ty Open Space Grant:
MacArthur Tract 25,000 25,000
Total Other Grants 27,004 2,004 25,000
Total All Grant $ 579,375 $ 361,482 $ 329,698 $ 611 159
Cash Receipts $ 300,862Unappropriated Reserves 28,836
Total $ 329.698
53
TOWNSHIP OF HADDON FEDERAL AND STATE GRANTS FUND
SCHEDULE OF RESERVES FOR GRANTS - UNAPPROPRIATED FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-25
BALANCE DECEMBER 31, CASH
REALIZED AS MISCELLANEOUS
REVENUE INBALANCE
DECEMBER 31,STATE GRANTS 2011 RECEIPTS 2012 BUDGET 2012
Drunk Driving Enforce1nent Grant $ 3,830 $ 1,750 $ 3,830 $ 1,750
Clean Communities Grant 23,279 22,899 23,279 22,899
Body .Ar1nor Fund 1,727 2,689 1,727 2,689
Recycling Tom1age Grant 33,930 33,930
NJ Sustainable Grant 2,000 2,000
LOCAL GRANTS
Ca1nden County Open Space -Saddle Woods 18,697 18,697
Total All Grant $ 62,766 $ 48,035 $ 28,836 $ 81,965
Recycling T01u1age GrantAlcohol Education & Rehabilitation
$ 65,854 $ 43,024 $ 32,016 $ 76,862
Fund 4,423 2,914 7,337Environmental Co1nmissioner -
DEP Grant 620 620Drunk Driving Enforcement Grant 24,694 3,830 2,009 26,515Clean Con1111u1rities GrantSafe & Secure Co!TI111UI1ities Grant
48,928 23,279 8,511 63,696
Pedestrian Safety Grant 3,280 3,280Green Conununities Grant 3,000 3,000Delaware Valley Estuary Grant 25,000 25,000Body Ar1nor Fund 4,020 1,727 5,747Economic Development Authority
Grant -2008 141,592 128,006 13,586
Grant -2012 176,708 152,445 24,263CSIP Tree CommissionDrug A\vareness & Resistance
99 99
Education 14,417 5,537 8,880NJ Historic Trust 50,000 24,700 25,300
54
TOWNSHIP OF HADDON FEDERAL Al D STATE GRANTS FUND
SCHEDULE OF RESERVES FOR GRANTS - APPROPRIATED FOR TI-IE YEAR ENDED DECEMBER 31, 2012
EXHIBIT A-26
TRANSFERBALANCE
DECEMBER 31,FROM 2012
BUDGETBALANCE
DECEMBER 31,2011 APPROPRIATION EXPENDED 2012
State Grants:
Economic Develop1nent AuthorityGrant -2009 570,781 5,620 565,161
Econo111ic Development AuthorityGrant -2011 124,928 6,152 118,776
Econo1nic Development Authority
Safe & Secure Co1rununities Grant 60,000 60,000
Total State Grants 1,031,636 361,482 427,996 965,122
Other Grants:Camden County Open Space Grant:
Saddler Woods Project Fire Safety Progra1n -
391 391
Township Match Safe & Secure Grant -
1,177 5,804 6,626 355
Township Match 12,901 12,901 25,802Municipal Alliance Progra1n -
Tovl'nship Match 4,228 4,228
Total Other Grants 18,697 18,705 6,626 30,776
Total All Grant $ 1 050.333 $ 380 187 $ 434 622 $ 995 898
TRUST FUND
TOWNSHIP OF HADDON TRUST FUND
SCHEDULE OF CASH - TREASURERFOR THE YEAR ENDED DECEMBER 31,
2012
EXHIBIT B-1
ANIMAL CONTROL OTHER FUND
Balance Dece1nber 31, 2011
Increased by Receipts:Dog License FeesCat License FeesMiscellaneous Other FeesDog Registration Fees - Due State of
New JerseyDue Cutrent Fund Reserve for PayrollManiage License Fees - Due State of New JerseyReserve for Public DefenderReserve for Parking Offenses Adjudication Act
$ 793,903 $ 5,980
$ 7,6891,951
185
989$ 4,218 60
6,397,0301,7507,0251,492
Reserve for New Jersey Unemploy1nentCompensation Insurance - Interest Earned 752
Budget Approptiations - Unen1ployinent Trust 50,000Other Receipts - Une1nploy1nent Trust 7,002Conunm1ity Develop1nent Block Grant Receivable 21,060Reserve for Tax Title Lien Redeinption Fund 603,892Pre1nimns Received at Tax Sale 160,900Reserve for Mru1icipal D1ug Alliance Donations 8,642Reserve for Funds Held in Escrow 15,213Reserve for E1nployment of Off Duty Police 213,921Reserve for Recreation 12,400Budget Approp1iations - Accumulated Leave 47,000Reserve for Civic Celebrations 51,431Reserve for M.L.E.T.A 2,065
Total Increases 7,605,793 10,874
Total Increases & Balances 8,399,696 16,854
Decreased by Disburse1nents: Expenditures Under R.S.4:19-15.11 12,478Due Utility Operating FundDog Registration Fees - Due State of New Jersey Reserve for Payroll
42,526
6,301,923834
Maniage License Fees - Due State of New Jersey Reserve for New Jersey Uneinployment
Compensation Insurance - Clallns Paid
1,825
32,124Reserve Com1nunity Developtnent Block Grant 21,112Reserve for Tax Title Lien Redemption Fund 672,393Prcmiutns Received at Tax Sale 182,500Reserve for Municipal D1ug Alliance Donations 3,928Reserve for Funds Held in Escrow 17,152Reserve for E1nploy1nent of Off Duty Police 131,153Reserve for Recreation 12,437Reserve for Accu1nulated Leave C01npensation 49,666Reseive for Snow Re1noval 5,101Reserve for Civic Celebrations 42,808
Total DisbuISements 7,516,648 13,312
Balance Dece1nbei·31, 2012 $ 883,048 $ 3 542
TOWNSHIP OF HADDON TRUST ASSESSMENT FUND
SCHEDULE OF DEPOSITS ON FUTURE ASSESSMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NAME BLOCK LOT
EXHIBIT B-2
AMOUNT
Alan J. Curtin 248 20 $ 300Hamilton Builders, Inc. (D&G Albanese Paving) 20 8 150
Total $ 450
TRUST FUND - ANIMAL CONTROL FUNDEXHIBIT B-3
SCHEDULE OF RESERVE FOR ANIMAL CONTROL FUND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 2012
Balance December 31, 2011
Increased by: Receipts:
$ 5,844
Dog License Fees $ 7,689Cat License Fees 1,951Late Fees & Duplicate Tag Fees 185 9 825
Subtotal 15,669
Decreased by:Disburse1nents - Expenditures Under R.S. 4:19-15.11 Cash 12 478
Balance/(Deficit) December 31, 2012 $ 3.191
LICENSE FEES COLLECTED
YEAR AMOUNT
2011 $ 9,3962010 9 018
Total $ 18.414
SCHEDULE OF DUE TO/FROM CURRENT FUND FOR THE YEAR ENDED DECEMBER 31, 2012
Balance December 31, 2011
Increased by:Interest Earned on Investments & Deposits
Balance December 31, 2012
EXHIBIT B-4
$ 159
60
$ 219
TOWNSHIP OF HADDON TRUST OTHER FUND
EXHIBIT B-5
SCHEDULE OF COMMUNITY DEVELOPMENT BLOCK GRANT RECEIVABLE FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2012 and 2011 $ 52,905
TRUST FUND - ANIMAL CONTROL FUND SCHEDULE OF DUE TO STATE OF NEW
JERSEY FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-6
Balance Dece1nber 31, 2011
Increased by:
$ 7
Registration Fees Collected 989
Subtotal 996
Decreased by:Disburse1nents 834
Balance December 31, 2012 $ 162
SCHEDULE OF PAYROLL DEDUCTIONS PAYABLEEXHIBIT B-7
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Dece1nber 31, 2011 $ 78,491
Increased by:Receipts 6,397,030
Subtotal 6,475,521
Decreased by:Disburse1nents 6,301,923
Balance Dece1nber 31, 2012 $ 173 598
A detail analysis of Payroll Deductions Payable is on file in the Treasurer's Office.
TOWNSHIP OF HADDON TRUST FUND OTHER
FUNDSCHEDULE OF DUE TO/FROM CURRENT
FUND FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2011 (Due from)
Increased by:Transfer to Current Fund
EXHIBIT B-8
$ 90,249
Subtotal 90,249
Decreased by:Transfer From Current Fund 4,218
Balauce, December 31, 2012 (Due from) $ 86 031
EXHIBIT B-9SCHEDULE OF DUE TO STATE OF NEW JERSEY - MARRIAGE & BURIAL LICENSE FEES
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2011
Increased by:
$ 2,312
Receipts 1,750
Subtotal 4,062
Decreased by:Disbursements 1,825
Balance, December 31, 2012 $ 2.237
SCHEDULE OF RESERVE FOR PUBLIC DEFENDER FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-10
Balance, Dece1nber 31, 2011 $ 7,109
Increased by: Deposits 7 025
Balance, Dece1nber 31, 2012 $ 14 134
60
Interest Earned on Investments $ 752Due From State of New Jersey 7,002Budget Appropriations - Cu1Tent 40,000Budget Appropriations - Utility 10,000 57,754
Subtotal 140,000
Decreased by:Clai111s Paid 32,124
Balance, December 31, 2012 $ 107,876
TOWNSHIP OF HADDON TRUST OTHER FUND
EXHIBIT B-11
SCHEDULE OF RESERVE FOR PARKING OFFENSES ADJUDICATION ACT FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 594
Increased by: Receipts 1,492
Balance, December 31, 2012 $ 2.086
EXHIBIT B-12 SCHEDULE OF RESERVE FOR NEW JERSEY UNEMPLOYMENT COMPENSATION INSURANCE
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 82,246
Increased by: Receipts:
EXHIBIT B-13 SCHEDULE OF RESERVE FOR COMMUNITY DEVELOPMENT BLOCK GRANT
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
Increased by:
$ 44,142
Rei1nbursement 21,060
Subtotal 65,202
Decreased by: Disburse1nents
21,112
Balance, Dece1nber 31, 2012 $ 44.090
61
TOWNSHIP OF HADDON TRUST
OTHER FUNDSCHEDULE OF PREMIUMS RECEIVED AT TAX SALE
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-14
Balance Dece1nber 31, 2011
Increased by:
$ 313,900
Receipts 160,900
Subtotal 474,800
Decreased by:Refunds 182,500
Balance Dece1nber 31, 2012 $ 292 300
EXHIBIT B-15 SCHEDULE OF RESERVE FOR DISPOSAL OF FORFEITED PROPERTY
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance December 31, 2012 & 2011 $ 7 169
SCHEDULE OF RESERVE FOR TAX TITLE LIEN REDEMPTION FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-16
Balance Dece1nber 31, 2011
Increased by:
$ 157,453
Receipts 764,792
Subtotal 922,245
Decreased by:Disburse1nents 833 293
Balance Dece111ber 31, 2012 $ 88 952
62
TOWNSHIP OF HADDON TRUST OTHER FUND
EXHIBIT B-17
SCHEDULE OF RESERVE FOR MUNICIPAL DRUG ALLIANCE DONATIONS FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
$ 11,801
Increased by: Receipts $ 8,491Interest Earned 151 8,642
Subtotal 20,443
Decreased by: Disburse1nents 3,928
Balance, Decetnber 31, 2012 $ 16,515
SCHEDULE OF RESERVE FOR FUNDS HELD IN ESCROW FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-18
PLANNING/SHADE ZONINGTREE BOARD REDEVELOPER
TOTAL ESCROW ESCROW ESCROW
Balance, Dece1nber 31, 2011 $ 54,036 $ 663 $ 53,373
Increased by:Receipts 15,213 2,437 12,373 $ 403
Subtotal 69,249 3,100 65,746 403
Decreased by: Disburse1nents
17,152 2,440 14,309 403
Balance, Dece1nber 31, 2012 $ 52 097 $ 660 $ 51.437 $
63
TOWNSIDP OF HADDON TRUST OTHER FUND
EXHIBIT B-19
SCHEDULE OF RESERVE FOR EMPLOYMENT OF OFF-DUTY POLICE OFFICERS FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
Increased by:
$ 26,757
Receipts 213,921
Subtotal 240,678
Decreased by:Disbursements 131,153
Balance, Dece1nber 31, 2012 $ 109.525
SCHEDULE OF RESERVE FOR RECREATION TRUST FUND FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-20
Balance, Dece1nber 31, 2011
Increased by:
$ 3,223
Receipts 12,400
Subtotal 15,623
Decreased by:Disburscincnts 12,437
Balance, Dcce1nbcr 31, 2012 $ 3 186
EXHIBIT B-21SCHEDULE OF RESERVE FOR ACCUMULATED LEAVE COMPENSATION
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
Increased by:
$ 62,952
Budget Appropriaton - Current 40,000Budget Approp1iaton - Utility 7,000
Subtotal 109,952
Decreased by: Disburse1nents 49,666
Balance, Dece1nber 31, 2012 $ 60.286
64
TOWNSHIP OF HADDON TRUST OTHER FUND
SCHEDULE OF RESERVE FOR LIBRARY FOR THE YEAR ENDED DECEMBER 31,
2012
EXHIBIT B-22
Balance, December 31, 2012 & 2011 $ 2,403
EXHIBIT B-23SCHEDULE OF RESERVE FOR MAINTENANCE - BUILDING SIGNS
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2012 & 2011 $ 4 000
SCHEDULE OF RESERVE FOR SNOW REMOVALEXHIBIT B-24
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 64,557
Decreased by:Disbursements 5,101
Balance, Dece1nber 31, 2012 $ 59,456
65
TOWNSHIP OF HADDON TRUST
OTHER FUNDSCHEDULE OF RESERVE FOR CIVIC CELEBRATIONS
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT B-25
Balance, December 31, 2011
Increased by:
$ 2,457
Receipts 51,431
Subtotal 53,888
Decreased by:Disburse1nents 42,808
Balance, Dece1nber 31, 2012 $ 11.080
SCHEDULE OF RESERVE FOR CELL PHONE TOWER LEASE FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2012 & 2011
SCHEDULE OF RESERVE FOR ELECTION EXPENSE FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2012 & 2011
SCHEDULE OF RESERVE FOR M.L.E.T.A. FOR THE YEAR ENDED DECEMBER 31,
2012
Balance, Dece1nber 31, 2011
Increased by:Receipts
Balance, Dece1nber 31, 2012
EXHIBIT B-26
$ 4,400
EXHIBIT B-27
$ 7.783
EXHIBIT B-28
$
2,065
$ 2,065
66
GENERAL CAPITAL FUND
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
SCHEDULE OF GENERAL CAPITAL CASH - TREASURER FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT C-1
Balance, Dece1nber 31, 2011
Increased by Receipts:
$ 2,238,409
Due CmTent Fund $ 14,771Reserve for Bond Anticipation Note Payable 11,810,124Reserve for DY DEE Development - Interest Eanllngs 3,171Capital Improvement Fund 65,000 11,893,066
Subtotal 14,131,475
Decreased by Disburse1nents:Reserve for Bond Anticipation Note Payable 11,810,124hnprove1nent Authorizations 1,589,175 13,399,299
Balance, Dece111ber 31, 2012 $ 732.176
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
ANALYSIS OF GENERAL CAPITAL CASH FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT C-2
Fund Balance $ 17,508Capital Improvement Fund 24,000Due Cun·ent Fund (187,239)Due Tiust Assessment Fund 450Due Fann New Jersey Road Aid (265,868)Reserve for Encumbrances 478,739Reserve for Flood Procee.ds 25,866Reserve for Flood ProceedsImprovement Authorizations:
3,171
ORDINANCENUMBER DESCRIPTION
911 Vati.ous Iinprovctnents 412933-1065 Acquisition of MacArthur Tract 73,635
1084 Acquisition, Const1uction, Repair & Installation of Various CapitalItnprove1nents 89
1103 Acquisition, Consttuction, Repair & Installation of Various CapitalImprovements 242,272
1104 Acquisition, Construction, Repair & Installation of Various CapitalImprovements to the DyDee Wash Redevelop1nent Project 474,821
1134 Acquisition, Constluction, Repair & Installation of Various CapitalImprovements 44,600
1161
1185
Acquisition, Construction, Repair & Installation of Vruious Capital I:inprovements
Acquisition, Construction, Repair & Installation of Vaii.ous Capital Ilnprovernents
25,708
87,17611971220
St:reetscape TrnprovementsCo111pletion of Various Capital J1nproveinents & Acquisition of
(2,788)
1240Capital Equip111ent
Acquisition, Construction, Repair & Installation of Various Capital494,220
I:inprove1nents 759,1261265 Acquisition, Construction, Repair & Installation of Various Capital
1279I:inprove111ents
Acquisition, Construction, Repair &(733,839)
I:i1stallation of Various CapitalI1nprovernents (765,517)
1298 Acquisition, Construction, Repair &Installation of Various CapitalI1nprove1nents (64,366)
Total 732,176
EXHIBIT C-3 SCHEDULE OF DEFERRED CHARGES TO FUTURE TAXATION - FUNDED
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
Decreased by:2012 Budget Appropriations:
Sedal BondsGreen Acres Loans
Balance, Decen1ber 31, 2012
$ 10,337,750
s 656,600 34,356 690,956
$ 9 646 794
2,130,000 2,130,000 2,070,550 59,450
1,929,450 1,929,450 1,929,450
1,400,300 1,400,300 666,459 733,841
1,106,750 1,106,750 341,234 765,516
$ 1,054,500 1,054,500 990,135 64,365
$ 14.416 287 $ 1,054,500 $ 63 292 $ 15,407 495 $ 11 746 832 $ 2 094.153 $ 1 566 510
1298 Acquisition of CapitalEquip111ent & Various
TO,VNSHIP OF HADDONGENERAL CAPITAL FUND
SCHEDULE OF DEFERRED CHARGES TO FUTURE TAXATION - UNFUNDED
FOR Tl-IE YEAR ENDED DECEMBEll 31, 2012
EXHIBIT C-4
BALANCE BALANCEANAL YSlS OF BALANCE
DECEMBER 31, 2012 ORDINANCE
NUMBER IMPROVEMENT DESCRJPTJONDECEMBER 31,
20112012
AUTHORIZATIONS FUNDEDDECEMBER 31,
2012BAN'S
OUTSTANDINGUNEXPENDED
BALANCEEXPENDED BALANCE
1104/1247 Acquisition, Construction, Repair & Installation of Various Capital Improve1nents to the DyDee Wash1Zedevelopn1ent Project $ 7,810,124 $ 63,292 $ 7,746,832 $ 7,746,832
1161 Acquisition, Construction, Repair &Installation of Various CapitalImprove1nents 898 898 $ 898
1185 Acquisition, Construction, Repair &Installation of Various CapitalI111proven1cnls 38,765 38,765 35,977 $ 2,788
1197 Strcetscapc Improvements1220 Con1pletion of Various Capital
In1prove1nents & Acquisition
1240
1265
1279
of Capital EquipmentAcquisition, Construction, Repair & Installation of
Various Capital JinprovernentsAcquisition, Construction, Repair &
Installation of Various Capital Improvements
Acquisition, Construction, Repair & Installation of Various Capital Improvements
Capital Improve111ents
Total
Payment of Bond Anticipation Note $ 63,292
Total $ 63 292
TOWNSHIP OF HADDON GENERAL CAPITAL
FUNDSCHEDULE OF RESERVE FOR DY DEE
DEVELOPMENT FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31,
2011 Increased by:Interest Ean1ings
Balance, December 31, 2012
SCHEDULE OF DUE TO CURRENT FUND FOR THE YEAR ENDED DECEMBER 31,
2012
Balance, Dece1nber 31, 2011
Increased by:Receipts
Balance, Dece1nber 31, 2012
EXHIBIT C-5
$ -
3,171
$ 3,171
EXHIBIT C-6
$ (202,010)
14,771
$ (187,239)
SCHEDULE OF CAPITAL IMPROVEMENT FUNDEXHIBIT C-7
FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2011 $ 14,500
Increased by:Receipts - 2012 Budget Appropliation 65,000
Subtotal 79,500
Decreased by:Appropriation to Finance hnprovement Authorizations 55,500
Balance, Dece1nber 31, 2012 $ 24,000
70
Il1stallation of Various Capital Improvements 5/23/06 1,500,000 40,529 898 10,992 25,708 898 3,829
1185 Acquisition, Construction, Repair &Installation of Various CapitalIn1prove1nents 6/25/07 1,550,000 151,133 35,977 4,111 59,426 87,176 35,977 8,642
1197 Streetscape 1Inprove1nents 11/27/07 64,2761220 Completion of Various Capital
Improvements & Acquisitionof Capital Equipment 2,400,000 819,973 14,114 277,097 494,220 62,770
1240 Acquisition, Construction, Repair &Il1stallation of Various CapitalIl11prove1nents 6123109 2,211,000 938,359 102,866 102,360 818,576 120,289
1265 Acquisition, ConstJ.uction, Repair &Installation of Various CapitalIlnprove111ents 6/23/10 1,625,000 920,649 69,265 218,860 666,459 104,595
1279 Acquisition, Construction, Repair &lnstallation of Various CapitalImproven1ents 4/26/11 1,365,000 978,075 576,560 341,234 60,281
1298 Acquisition of CapitalEquipment & Various Capital ill1provements 7/24/12 1,054,500 $ 1 300.000 194 192 990, 135 115,673
Total $ 652 985 $ 4 220.123 $ 191 018 $ 1 300 000 $ 1 589 175 $ $ 473 892 $ 3 822 320 $ 478.739
TOWNSllll' OF IIADDON GENERAL CAPITAL FUND
SCIIEDULE OF 11\iIPROVEMENT AUTIIORIZATIONS I<OR Tl-IE YEAR ENDED DECEl\llBER 31, 2012
EXHIBIT C-8
BALANCE BALANCEORDINANCE
NUMBERIMPROVEMENT
DESCRlPTION ORDINANCE DECEMBER 31, 2011
DATE AMOUNT FUNDED UNFUNDED RESERVED2012
AUTHORJZATIONS EXPENDED REFUNDS DECEMBER 31, 2012
FUNDED UNFUNDED RESERVED
911 Various Improve1nents 5/7/91 $ 2,895,000 $ 412 $ 412933-1065 Acquisition of MacArthur Tract 4/21/92&00 1,650,000 73,635 73,635 1084-1172 Acquisition, Construction, Repair &
Installation of Various Capital1Inprove1nents 6/18/02 1,750,000 10,634 $ 662 $ 10,545 89 $ 662
1103 Acquisition, Construction, Repair & Installation of Various CapitalIlnprove1nents 5/18/04 3,675,000 299,797 55,527 242,272 1,998
1104/1247 Acquisition, Construction, Repair &Installation of Various Capital Ilnprovements to the DyDee\Vash Redevelop1nent Project 9/28/04 8,000,000 526,192 51,371 $ 474,821
1134 Acquisition, Construction, Repair &Installation of Various CapitalImprovements 5/31/05 1,400,000 76,845 32,245 44,600
"" 1161 Acquisition, Construction, Repair &
72
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
EXHIBIT C-9
SCHEDULE OF GREEN TRUST LOAN PROGRAM - CRYSTAL LAKE DEVELOPMENT FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 55,149
Decreased by:Budget Appropriation 4,530
Balance, Dece1nber 31, 2012 $ 50 619
Aplil 2013
SCHEDULE OF GREEN ACRES LOAN PAYABLE DECEMBER 31, 2012
$ 2,299October 2013 2,322April 2014 2,345October 2014 2,369April 2015 2,392October 2015 2,416April 2016 2,440October 2016 2,465April 2017 2,489October 2017 2,514April 2018 2,539October 2018 2,565April 2019 2,590October 2019 2,616April 2020 2,643October 2020 2,669April 2021 2,696October 2021 2,723Aplil 2022 2,750October 2022
2,777
Total $ 50 619
73
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
EXHIBIT C-10
SCHEDULE OF GREEN TRUST LOAN PROGRAM - MAC ARTHUR TRACT ACQUISITION FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Decen1ber 31, 2011 $ 381,601
Decreased by:Budget Appropriation 29,826
Balance, December 31, 2012 $ 351 775
January 2013
SCHEDULE OF GREEN ACRES LOAN PAYABLE DECEMBER 31, 2012
$15,137
July 2013 15,289January 2014 15,441July 2014 15,596January 2015 15,752July 2015 15,909January 2016 16,068July 2016 16,229Janumy 2017 16,391July 2017 16,555January 2018 16,721July 2018 16,888January 2019 17,057July 2019 17,228January 2020 17,400July 2020 17,574January 2021 17,750July 2021 17,927January 2022 18,106July 2022 18,287Jairnaiy 2023
Total
18,470
$ 351,775
General Bonds 08/15/2001 $ 1,780,000 08/15/13-15 $ 100.000 4.50% $ 1,105,000 $ 100,000 $ 1,005,00008/15/2016 105,000 4. 60%08/15/2917 120,000 4.60%08/15/18-19 120,000 4.70%08/15/20-21 120,000 4.75%
General Bonds 4/20/2006 6,175,000 11/15/13 250,000 4.000% 5,150,000 250,000 4,900,00011/15/14-15 300,000 4.000%11/15/2016 300,000 4.125%11/15/17-18 325,000 4.125%11/15/19-22 375,000 4.125%11/15/23-24 400,000 4.150%11/15/25-26 400,000 4.250%
General Bands 517/2008 2,595,000 5/1/13-14 100,000 3.625% 2,335,000 90,000 2,245,000511/15 115,000 3.625%
5/1/16-18 125,000 3.625%5/1/19 135,000 3.625%511120 140,000 3.750%5/1/21 150,000 3.750%
5/1/22-23 160,000 3.750%5/1/24-27 160,000 4.000%
5/1/28 170,000 4.000%
Refunding Bonds 517/2008 2,394,000 9/15/13 228,000 3.250% 1,311,000 216,600 1,094,4009/15/14 225,150 3.250%9/15/15 219,450 3.250%9/15/16 142,500 3.250%9/15/17 139,650 3.375o/o
TOWNSHIP OF HADDON GENERAL CAPITAL
11UNDSCHEDULE OF GENERAL SERIAL BONDS
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT C-11
MATURITIES OF BONDS
DATE OF ORIGINALOUTSTANDING
DECEMBER 3 L 2012 INTERESTBALANCE
DECEMBER 31,PAID BY BUDGET
BALANCE DECEMBER 31,
PURPOSE ISSUE ISSUE DATE AMOUNT RATE 2011 APPROPRIATION 2012
....,"""
9/15/18 139,650 3.450%
Total $ 9,901 ,000 $ 656,600 $ 9,244,400
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
SCHEDULE OF OBLIGATIONS UNDER CAPITAL LEASE FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, December 31, 2011
Decreased by:Defeasance of Capital Lease
Obligation Balance, Dece1nber 31, 2012
75
EXHIBIT C-12
$ 339,000
339,000
$
°'
TOWNSHIP OF HADDON GENERAL CAPITAL
FUNDSCHEDULE OF BOND ANTICIPATION NOTES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT C·13
DATE OF BALANCE BALANCEORDINANCE ORIGINAL DAIE OF DAfE OF INTEREST DECEMBER 31, DECEMBER 31,
NUMBER IMPROVEMENT DESCRIPTION NOTE ISSUE MATURITY RATE 2011 INCREASE DECREASE 2012
110411247 Acquisition, Construction, H..epair &h1stallation of Various Capitalhnprovements to the DyDeeRedevelop1nent Project 11/17/05 217/2012 2/6/2012 1.67% $ 4,810,124 $ 4,746,832 $ 4,810,124 $ 4,746,832
1104/1247 Acquisition, Construction, Repair &Installation of Various CapitalI1nprove1nents to tl1e DyDeeRedevelop111ent Project 11/24/09 11/24/12 11/24/12 1.090% 3,000,000 3,000,000 3,000,000 3,000,000
--.] 1220 Completion of Various Capitallinprovements & Acquisitionof Capital Equipn1ent 11/24/09 11/24112 11/24/12 . 630% 2,070,550 2,070,550 2,070,550 2,070,550
1240 Acquisition, Construction, Repair& Installation of VariousCapital Improvc1ncnts 11/24/09 11/24/12 11/24/12 . 630% 1,929,450 1,929,450 1,929,450 1,929,450
Total $ 1 1.810 124 $ 11,746 832 $ 11 810 124 $ 11.746.832
77
TOWNSHIP OF HADDON GENERAL CAPITAL FUND
EXHIBIT C-14
SCHEDULE OF BONDS AND NOTES AUTHORIZED BUT NOT ISSUED FOR THE YEAR ENDED DECEMBER 31, 2012
ORDINANCE NUMBER
IMPROVEMENT DESCRJPTION
BALANCE DECEMBER 31,
20112012
AUTHORIZATIONS
BALANCE DECEMBER
31,2012
1161 Acquisition, Construction, Repair & Installation of Various Capital hnproven1ents
$ 898 $ 898
1185 Acquisition, Construction, Repair & Installation of Various Capital hnprovements 35,977 35,977
1197 Streetscape I111provements 2,788 2,788
1240 Acquisition, Construction, Repair & Installation of Various Capital hnprove1nents
59,450 59,450
1265 Acquisition, Construction, Repair & Installation of Various Capital In1prove1nents
1,400,300 1,400,300
1279 Acquisition, Construction,Repair & Installation ofVarious Capital Iinprove1nents 1,106,750 1,106,750
1298 Acquisition of CapitalEquip1nent & VariousCapital hnprove1nents $ 1,054,500 1,054,500
Total $ 2.606 163 $ 1.054 500 $ 3 660 663
78
TOWNSHIP OF HADDONEXHIBIT C-15
GENERAL CAPITAL FUNDDUE FROM STATE OF NEW JERSEY ROAD
AID FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 75,868
Increased by:Aid A'varded-Reconstructing and/or
Resurfacing of Various Streets 190,000
Balance, December 31, 2012 $ 265,868
79
WATER-SEWER UTILITY FUND
80
Collector $ 3,419,545Interest on InvestmentsBond Anticipation Notes Issued
7,161$
NJEIT Loan ReceivableDue to Cu1Tent Fund 1,087Due to Trust - Other 42,525Due to Utility Operating
Subtotal 3,470,318
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND SCHEDULE OF UTILITY CASH - TREASURER FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-4
OPERATING FUND CAPITAL FUND
Balance, Dece111ber 31, 2011 $ 761,657 $ 1,051,196
Increased by Receipts:
1,450,000123,552
8,462
1,582,014
Total 4,231,975 2,633,210
Decreased by Disburse1nents:2012 Approp1iations 3,374,8902011 Appropriation Reserves 45,269Due to Cu1Tent Fw1d 8,503Due to BankBond Anticipation Notes Redee1ned
5311,450,000
hnproven1ent Authorizations 832,860
Total Disbursements 3,429,193 2,282,860
Balance, Dece1nber 31, 2012 $ 802,782 $ 350,350
81
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
SCHEDULE OF WATER-SEWER UTILITY CASH - COLLECTORFOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
Increased by Receipts:Consumer Accounts Receivable:
EXHIBIT D-5
$
Water $ 2,010,205Se\ver 1,231,664
Penalties on Delinquent Accounts 9,238Prepaid Rents 31,881Other Receipts 15,180Revenue Accounts Receivable 88,991 3,387,159
Subtotal 3,387,159
Decreased by Disburse1nents: Payment to Treasurer
Balance, Dece1nber 31, 2012
3,387,159
$
WATER-SEWER UTILITY CAPITAL FUNDANALYSIS OF CASH - WATER-SEWER UTILITY CAPITAL FUND
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-6
Fund Balance $ 16,787Capital I1nprovement Fund 12,427Due Water/Sewer Operating Fund 224,303Reserve for Encu1nbrances 844,306Reserve for Repay1nent for Debt 135,450NJEIT Loan Receivable (468,458)IMPROVEMENT AUTHORIZATIONS:
ORDINANCENUMBER DESCRIPTION
1085 Various hnprovements to Water-Sewer Utility 1221 Various hnprovements to the Water-Sewer Utility 1241 Various hnprove1nents to the Water-Sewer Utility 1266 Various hnprove1nents to the Water-Se\ver Utility 1280 Various hnprove1nents to the Water-Sewer Utility 1299 Various Improvements to the Water-Sewer Utility
Total
60020,65732,499
137,754(422,421)
(183,554)
$ 350 350
82
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
SCHEDULE OF CONSUMER ACCOUNTS RECEIVABLE - WATERFOR THE YEAR ENDED DECEMBER 31, 2012
EXH!BIT D-7
Balance, December 31, 2011
Increased by:
$ 6,091
Ove1pay1nents Created $ 6,543Water Rents Levied 2,040,338 2,046 881
Subtotal 2,052,972
Decreased by:Prepaid Applied 14,071Ove1payinents Applied 7,470Cancellations l 7,416Transfer to Liens Receipts - Collector
l,697 2,010,205 2,050 859
Balance, Deceinber 31, 2012 $ 2. 113
SCHEDULE OF CONSUMER ACCOUNTS RECEIVABLE - SEWERFOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-8
Balance, Decetnber 31, 2011 $ 9,316
Increased by:Overpayments Created s 3,841Sewer Rents Levied l,245,648 l
249,489 Subtotal
1,258,805
Decreased by:Prepaid Applied 7,803Ove1pay1nents Applied 8,910Cancellations 6,135Transfer to Liens 358Receipts - Collector 1,231,664 1,254,870
Balance, Dece1nber 31, 2012 $ 3-935
SCHEDULE OF DUE TO CURRENT FUND FOR THE YEAR ENDED DECEMBER 31, 2012
EXHlBIT D-9
Balance, Dece1nber 31, 2011
Increased by:
$ 3,056
Receipts Fro1n Current l 087
Subtotal 4,143
Decreased by: Disburse1nents to CwTent 8,503
Balance, Dece1nber 31, 2012 $ (4.360)
83
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
SCHEDULE OF REVENUE ACCOUNTS RECEIVABLE FOR THE YEAR ENDED DECEMBER
31, 2012
EXHIBIT D-10
BALANCEDECEMBER 31, ACCRUED
2011 IN 2012
BALANCE DECEMBER 31,
COLLECTED 2012
Water Service Fees & Pe1nits Cell Tower LeaseRentals of West Collingswood
Heights Facilities - New Jersey
$ 27,712 $23,241
27,71223,241
Water Company $ 12,616 38,134 38,038 $ 12,712
Total $ 12 616 $ 89 087 $ 88,991 $ 12,712
SCHEDULE OF UTILITY LIENSFOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-11
Ba.Janee, December 31, 2011 $
Increased by:Transfers fi·om Taxes Receivable 2,055
Balance, December 31, 2012 $ 2,055
SCHEDULE OF CAPITAL IMPROVEMENT FUND FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-12
Balance, December 31, 2012 & 2011 $ 12 427
84
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND SCHEDULE OF FIXED CAPITAL - WATER
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-13
Filter $ 49,959Springs & Wells 563,598Ozone Sterilization & Aeration Plant 15,463Pumping Station Structure 75,334Electric Power Pumping Equip1nent 12,444Storage Reservoir, Tanks & Standpipes 103,723Distribution Main & Accessories 480,969Meters, Meter Boxes & Vaults 544,172Fire Hydrants 12,265General Equipment 153,552Legal Expenditures During Construction 2,146PlUilping Station & Equipment 382,710Water Plant Filter 23,494Constiuction of Water Main in Main Street 6,460Service Pipes & Stops 50,357General & Mechanical Generator, General Building & Wash Water Tank 48,551Electrical Generator Installation at Water Plant 32,273Booster Pumping Station at Crystal Lake Avenue & Valley Drive 576,667Elevated \Vater Storage Tank at Beechwood Avenue & Fist Street 851,042Improve1nent to Water Supply & Distribution System 3,061,321Refunding Issue 191,000hnprove1nent to Water Supply & Se\verage Syste1n 933,355Reconsh·uction & Repair of Well No. 2 182,062Replace1nent, Repairs & Improve1nents to Mains 209,476Line Stop Machine 40,000Vehicles 70,000Land for Well No. 4 75,000Dome Cover for Water Plant 12,700Water Plant hnprove1nents 152,200Water Distribution Syste1n hnprove1nents 242,605\Vater Storage Improvements 191,675Well I1nprove1nents 103,815Water Supply Rehabilitation Iinprove1nents 258,867
Total $ 9,709,255
85
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND SCHEDULE OF FIXED CAPITAL - SEWER
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-14
BALANCE DECEMBER 31,
2012
Sewer Mains & Services $ 416,012Transpo1iation Equip1nent 608Bettlewood Disposal Plant 20,483Westmont Sewerage Disposal Plant 160,302General hnprove1nents 42,038Right-of-Way for Haddonleigh Trnck Sewer 750Cuthbert Boulevard Sewerage Disposal Plant 118,698hnprove1nents to Sewerage Disposal Plant & Sewerage Pu1nping Stations 116,704Sanitary Sewerage Disposal & Collections Syste111 1,566,581Wells 3,380Equipment 35,137Tax Map 600Calve1i Avenue Pmnping Station hnproven1entCalvert Avenue Reconstruction of Se\verage Treatinent Plant,
855
Pu1nping Station & Force Mains 875,113Installation of Cominunitor 9,440South Park Drive Pu1nping Station 33,379West Albertson Avenue Pumping Station 163,010Construction of Sanitary Sewers 110,734Improve1nents to Pu111ping Stations & Sewer Plant 162,601West Collingswood Heights Disposal Plant 90,140Renovations to Coles Mill Road Sewerage Treat1nent Plant 25,000Replace1nent to Sewer Lines 495,256Improve111ent of the Sanitary Sewerage Syste111 311,524
Total $ 4,758,345
86
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND
SCHEDULE OF FIXED CAPITAL AUTHORIZED AND UNCOMPLETED FOR THE YEAR ENDED DECEMBER 31, 2012
EXH!BIT D-15
2012DEFERRED
ORDINANCE IMPROVEMENTBALANCE
ORDINANCE DECEMBER 31,CHARGES
TO FUTUREBALANCE
DECEMBER 31,NUMBER DESCRIPTION DATE AMOUNT 2011 REVENUES 2012
1105 Various Ilnprovements to the\\Tater-Sewer Utility 5/18/2004 $ 855,000 $ 855,000 $ 855,000
1122 Various I111proven1ents to the Water-Se\ver Utility 3/22/2005 332,413 332,413 332,413
1135 Various In1provements to the Water-Sewer Utility 5/31/2005 1,045,000 1,100,000 1,100,000
1162 Various Improvements to the Water-Sewer Utility 5/23/2006 850,000 850,000 850,000
1185 Various Iinprove1nents to the Water-Se\ver Utility 6/25/2007 770,000 770,000 770,000
1216 Rehabilitation & Reconstruction of Sewer 5/27/2008 6,540,000 6,540,000 6,540,000
1221 Various Irnprove111ents to theWater-Se\ver Utility 5/27/2008 705,250 705,250 705,250
1241 Various Improvements to the\Vater-Serer Utility 512612009 845,000 845,000 845,000
1266 Various Iinprove1nents to the Water-Serer Utility 6/23/2010 340,000 340,000 340,000
1280 Various Improvements to the Water-Serer Utility 5/24/2011 590,000 590,000 590,000
1299 Various I1nprove1nents to theWater-Serer Utility 7/24/2012 750,000 $ 750,000 750,000
Total $ 12.927,663 $ 750,000 $ 13.677.663
Salaries and Wages $ 25,080 $ 25,000 $ 80Other Expenses $ 24,634 141,692 20,269 146,057
87
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
SCHEDULE OF 2011 APPROPRIATION RESERVES FOR THE YEAR ENDED DECEMBER 31, 2012
BALANCE DECEMBER 31, 2011ENCUMBERED RESERVED DISBURSED
EXHIBIT D-16
BALANCE LAPSED
Operating:
Statutory Expenditures:Contribution to:
Social Security Syste1n (O.A.S.I.) 5,674 5,674State Disability Insurance 1,042 1,042
Total $ 24,634 $ 173,488 $ 45,269 $ 152,853
SCHEDULE OF RESERVE FOR ENCUMBRANCES FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-17
Balance, Dece1nber 31, 2011
Increased by:
$ 24,634
2012 Appropriations 25,903
Subtotal 50,537
Decreased by:Transfe1Ted to 2011 Appropriation Reserves 24,634
Balance, Decen1ber 31, 2012 $ 25,903
WATER-SEWER UTILITY OPERATING FUND SCHEDULE OF PROTESTED CHECKS RECEIVABLE
FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-18
Balance, Decen1ber 31, 2011 $ 2,452
Increased by: Receipts
Subtotal 2,452
Decreased by:Disburse1nents
Balance, Dece1nber 31, 2012 $ 2 452
88
TOWNSHIP OF HADDONWATER-SEWER UTILITY OPERATING FUND
SCHEDULE OF ACCRUED INTEREST PAYABLE FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-19
Balance, Dece1nber 31, 2011
Increased by:
$ 100,803
Budget Appropriation for Interest on Bonds 95,443
Subtotal 196,246
Decreased by:Interest Paid by Operating Fund 100,803
Balance, Dece1nber 31, 2012 $ 95,443
WATER-SEWER UTILITY CAPITAL FUNDEXHIBIT D-20
SCHEDULE OF DUE TO WATER-SEWER UTILITY OPERATING FUND FOR THE YEAR ENDED DECEMBER 31, 2012
Balance, Dece1nber 31, 2011 $ 125,841
Increased by:Operating Surplus 90,000Interest Earned on Investments & Deposits 8,462
Balance, Dece1nber 31, 2012 $ 224-303
SCHEDULE OF CAPITAL FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-21
Balance, December 31, 2012 & 2011 $ 16,787
89
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND
SCHEDULE OF RESERVE FOR AMORTIZATION FOR THE YEAR ENDED
DECEMBER 31, 2012
Balance, Dece1nber 31, 2011
EXHIBIT D-22
$ 13,931,327
Increased by:Paid by Operating
Fund: Serial BondsEnvironmental In:frastructure Loai1
$ 398,400 278,809 677,209
Balance, Dece1nber 31, 2012
SCHEDULE OF DEFERRED RESERVE FOR AMORTIZATION FOR THE YEAR ENDED DECEMBER 31, 2012
$ 14,608 536
EXHIBIT D-23
ORDINANCENUMBER IMPROVEMENT DESCRIPTION
BALANCE DATE OF DECEMBER 31,
ORDINANCE 2012
General I111prove1nents:1135 Various I1nprovements to the \Vater-Sewer Utility 05/31/2005
1221 Various hnprove1nents to the Water-Sewer Utility 5/27/2008
Total
$ 55,000
35,263
$ 90,263
TOWNSIIIP OF I-IADDONWATER-SEWER UTILITY CAPITAL FUND
SCIIEDULE OF Th1PROVEMENT AUIIIORIZATIONS FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-24
ORDINANCE lMPROVEJ:vlENTBALANCE
AUTHORIZED DECEMBER 31, 2011 2012 PAID ORBALANCE
DECENIBER 31, 2012 NUMBER DESCRlPTION DATE AMOUNT FUNDED UNFUNDED RESERVED AUTIIORlZATIONS CANCELLED CHARGED FUNDED UNFUNDED RESERVED
1085 Various Improvements to the 6/18/20021114 Water-Serer Utility 12/28/2004 $ 850,000 $ 600 $ 600
1 185 Various bnprovements to theWater-Serer Utility 6/25/2007 770,000 54,042 $ 16,092 $ 60,593 $ 9,541
1216 Rehabilitation & Reconstructionof Sewer Utility 5/27/2008 6,540,000 27,216 $ 152,500 625,255 179,716 625,255
1221 Various Improvements to theWater-Serer Utility 5/2712008 705,250 77,991 30,455 60,390 $ 20,657 27,399
1241 Various Improvements to the Water-Serer Utility 5126109 845,000 258,162 67,528 159,646 97,486 68,558
0'° 1266 Various l111prove111ents to the Water-Serer Utility 6/23/10 340,000 233,294 48,000 70,584 137,754 72,956
1280 Various lmprove111ents to theWater-Serer Utility 5/24/11 590,000 469,515 9,537 273,004 167,579 38,469
1299 Various lrnprovemenls to theWater-Serer Utility 7/24/12 750,000 $ 750 000 28,927 718,945 2,128
Total ! 315 152
I 958.168 ! 796.867 ! 750 000 I ! 832 860 $ 138 354 !1 004 667 ! 844.306
08/15/2001 $ 475,000 08/15/10-15 $ 25,000 4.50% $ 275,000 $ 25,000 $ 250,00008/15/2016 25,000 4.60%08/15/2017 30,000 4.60%08/15/18-19 30,000 4.70%08/15/20-21 30,000 4.75%
04/20/2006 3,250,000 11/15/13-15 150,000 4.000% 2,625,000 150,000 2,475,00011/15/2016 150,000 4.125%11/15/17-21 175,000 4.125%11/15/2022 200,000 4.125%11/15/23-24 200,000 4.150%11/15/25-26 200,000 4.250%
05/07/2008 1,620,000 05/1/13 60,000 3.625% 1,470,000 60,000 1,410,00005/1/14-17 75,000 3.625%05/1/18-19 85,000 3.625%05/01/20 85,000 3.750o/o05/01/21 95,000 3.750%
05/1/22-23 100,000 3.750%05/1/24-28 100,000 4.000%
05/07/2008 09/15/13 172,000 3.250% 989,000 163,400 825,60009/15/14 169,850 3.250%09/15/15 165,550 3.250%09/15/16 107,500 3.250%09/15/17 105,350 3.375%09/15/18 105,350 3.450%
Total $ 5 359.000 $ $ 398 400 $ 4 960 600
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND SCHEDULE OF WATER-SEWER SERIAL
BONDS FOR THE YEAR ENDED DECEJVIBER 31, 2012
EXHIBIT D-25
MATURITIES OF BONDS
DATE OF ORIGINALOUTSTANDING
12/31/2012 INTERESTBALANCE
DECEMBER 31, ISSUED INPAID BY BUDGET
BALANCE DECEMBER 31,
PURPOSE ISSUE ISSUE DATE AMOUNf RATE 2011 2012 Al'PROPRIATION 2012
Water-Sewer Utility Bonds
Water-Sewer Utility Bonds
"'Water-Sewer Utility
Bonds
Refunding Bonds
11/9/2008 $ 3,200,000 8/1113 $ 120,000 3.37% $ 2 985,000 $ 115,000 $ 2,870.000 8/1114 125,000 3.55%8/1115 130,000 3.69%8/1/16 140,000 3.84%8/1117 145,000 3.96%8/1118 155,000 4.12%8/1/19 160,000 4.31%8/1/20 170,000 4.42%8/1/21 180,000 4.51%8/1122 190,000 4.60%8/1123 200,000 4.66o/o8/1124 210,000 4.80%8/1/25 220,000 4.85%8/1/26 230,000 4.89%8/1/27 240,000 4.92%8/1/28 255,000 4.95%
11/9/2008 $ 3,200,000 9/1/09-28 & Various NONE $ 2,772,187 $ 163,809 $ 2.608,378 3/1/09-28 Various
TOWNSlllP OF HADDON SEWER UTILITY CAPITAL FUND
SCHEDULE OF NEW JERSEY ENVIORNMENTAL INFRASTRUCTURE TRUST LOAN FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-26
MATURITIES BALANCE PAID BY BALANCEDATE OF ORIGINAL OF BONDS OUTSTANDING INTEREST DECEMBER 31, BUDGET DECEMBER 31,
IMPROVEMENT DESCRIPTION
Reconstruction & Rehabilitation of Various Sewers
ISSUE ISSUE DATE AMOUNT RATE 2011 APPROPRIATION 2012
SCHEDULE OF NEW JERSEY ENVIORNMENTAL INFRASTRUCTURE TRUST FOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-27
IMPROVEMENT DESCRIPTION
lZeconstruction & Rehabilitation of Various Sewers
DATE OF OlUGINAL ISSUE ISSUE
MATURITIESOF BONDS OUTSTANDING
DATE AMOUNT
BALANCE PAID BY INTEREST DECEMBER 31, BUDGET
RATE 2011 APPROPRIATION
BALANCE DECEMBER 31,
2012
Principal pay1nent are due on Septen1ber 1st and March 1st through 2016. An mnortization schedule is on file'.vith the CFO.
TOWNSIIlP OF HADDONWATER-SEWER UTILITY CAPITAL FUND
SCHEDULE OF BOND ANTICIPATION NOTES 110R THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-28
ORDINANCEDATE OF
ORIGINAL DATE OFBALANCE
DATE OF INTEREST DECEMBER 31,BALANCE
DECEMBER 31,NUMBER IMPROVEMENT DESCRIPTION NOTE ISSUE MATURITY RATE 2011 INCREASE DECREASE 2012
1221 Varia us Improven1ents to theWater-Serer Utility 11/24/09 11/23/11 11/23/12 1.0274% $ 669,987 $ 669,987 $ 669,987 $ 669,987
1241 Various I1nprove111ents to theWater-Serer Utility 11/24/09 11/23/11 11/23/12 1.0274% 780,013 780,013 780,013 780,013
Total $ 1,450,000 $ 1,450,000 $ 1,450,000 $ 1,450,000
94
TOWNSHIP OF HADDONWATER-SEWER UTILITY CAPITAL FUND
STATEMENT OF BONDS & NOTES AUTHORIZED BUT NOT ISSUEDFOR THE YEAR ENDED DECEMBER 31, 2012
EXHIBIT D-29
BALANCEFUNDED FROM
CAPITAL BALANCEORDINANCE
NUMBERIMPROVEMENT DESCRIPTION
DECEMBER 31,2011
IMPROVEMENT DECEMBER 31,AUTHORIZED FUND 2012
1216 Rehabilitation & Reconsh·uction of Sewer
1241 Various I1nprove1nentsto the Water - Sewer Utility
1280 Various 1Inprove1nentsto the Water - Se\ver Utility
$ 152,500
64,987
590,000
$ 152,500
64,987
590,000
1299 Various hnprovei11ents
to the \Vater - Sewer Utility $ 750,000 750,000
$ 807,487 $ 750,000 $ $ 1,557,487
SCHEDULE OF RESERVE FOR REPAYMENY OF BONDS FOR THE YEAR ENDED DECEMBER 31, 2012
Balance Decernber 31, 2011
Increased by:Pre1nium on Bond Anticipation Note
EXHIBIT D-30
$ 225,450
Subtotal 225,450
Decreased by:Anticipated as Operating Revenue 90,000
Balance Dccetnber 31, 2012 $ 135,450
SINGLE AUDIT SECTION
I HFJ\]HOLMAN I FRE NIA
ALLISON, P.C.Certifi.Ld Public Accountollls & Consultants
10 Allen Street, Suite 2B, Toms River,NJ 08753·Tel:732 797.1333 618 Stokes Road. Medford, NJ 08055
•Tel:609.953.0612912 Highway 33, Suite 2, Freehold, NJ 07728 • Tel:732.409.0800 795 Canton Street, Troy, PA
16947 ·Tel:570.2975090926 Main Street, Suite 103, Rome, PA 18837 ·Tel:570.297.5090
www.hfacpas.com
EXHIBIT K-1
REPORT ON COMPLIANCE FOR EACH MAJOR STATE PROGRAM; REPORT ON INTERNAL CONTROL OVER COMPLIANCE; AND
REPORT ON THE SCHEDULE OF EXPENDITURES OF STATE AWARDS REQUIRED BY OMB cmcULAR A-133 AND NJ OMB CIRCULAR 04-04
Honorable Mayor and Membersof the Township Board of Co1mnissioners
Township of Haddon135 Haddon Avenue Westmont, New Jersey 08108
Report on Compliance for Each Major State Program
We have audited the Township of Haddon's compliance with the types of compliance requirements described in the OMB Circular A-133 Compliance Supplement and the New Jersey Grants Compliance Supplement that could have a direct and material effect on each of the Authority's major state programs for the year ended December 31, 2012. The Township of Haddon 's major state programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its state programs.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for each of the Township of Haddon 's major state programs based on our audit of the types of compliance requirement s refened to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Pro.fit Organizations and New Jersey OMB's Circular 04-04, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Those standards, OMB Circular A-133 and New Jersey OMB's Circular 04-04, require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major state program occurred. An audit includes examining, on a test basis, evidence about the Township of Haddon's compliance with those requirements and performing such other procedmes as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major state program. However, our audit does not provide a legal detennination of the Township of Haddon's compliance with those requirements.
Opinion 011 Each Major State Program
In our opinion, the Township of Haddon complied, in all material respects, with the types of compliance requirements refe!Ted to above that could have a direct and material effect on each of its major state programs for the year ended December 31, 2012.
Other Matters
The results of our auditing procedures disclosed no instances of noncompliance, which are required to be reported in accordance with OMB Circular A-133 or New Jersey OMB's Circular 04-04.
Report on Internal Control Over Compliance
Management of the Township of Haddon is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements refe!Ted to above. In planning and perfonning our audit of compliance, we considered The Township of Haddon's internal control over compliance with the types of requirements that could have a direct and material effect on each major state program to detennine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major state program and to test and report on internal control over compliance in accordance with OMB Circular A-133 or New Jersey OMB' s Circular 04-04, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the Township of Haddon's internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the nonnal course of perfonning their assigned functions, to prevent, or detect and co1Tect, nonco1npliance with a type of compliance requirement of a federal or state progra1n on a timely basis. A 1naterial weakness in internal control over conipliance is a deficiency, or co1nbination of deficiencies, in inte1nal control over co1npliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a state program will not be prevented, or detected and co!Tected, on a timely basis. A significant deficiency in internal control over co1npliance is a deficiency, or a co1nbination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal or state program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or siguificant deficiencies. However, we noted certain matters involving the internal control over financial reporting and it's operation that we consider to be material weaknesses, which are described in the accompanying Co1mnent and Reconnnendation Section as Finding No's: 2012-01, 2012-02 and 2012-03.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the resnlts of that testing based on the requirements of OMB Circular A-133 and New Jersey OMB's Circular 04-04. Accordingly, this report is not suitable for any other purpose.
Report on Schedule of Expenditures of State Financial Assistance Required by New Jersey OMB Circular 04-04
We have audited the financial statements of the Township of Haddon as of and for the year ended December 31, 2012, and have issued our report thereon dated March 28, 2013, which contained an unmodified opinion on those financial statements. Our audit was conducted for the purpose of fanning an opinion on the financial statements as a whole. The accompanying schedule of expenditures of state financial assistance is presented for purposes of additional analysis as required by OMB Circular A-133 and New Jersey OMB Circular 04-04 and is not a required paii of the financial statements. Such infonnation is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The infonnation has been subjected to tlie auditing procedures applied in the audit of the financial statements and ce1iain additional procedures, including comparing and reconciling such infonnation directly to the underlying accounting and other records used to prepare the financial state1nents or to the financial staten1ents tliemselves, and other additional procedures in accordance with auditing standards generally accepted in tlie United States of America. In our opinion, the schedule of expenditure of state fmancial assistance is fairly stated in all material respects in relation to the financial statements as a whole.
Respectfully submitted,
NIA ALLISON, P.C.
Ce1 ·fied Public Accountant Registered Municipal Accountant CR #435
March 28, 2013 Medford, New Jersey
I HFEjHOLMAN I FRENTA
ALLISON , P.C.Urtifi d Public Accountants & Consultants
10 Allen Street, Suite 2B, Toms River, NJ 08753 ·Tel:732.797.1333 618 Stokes Road. Medford. NJ
08055 • Tel:609.953.0612912 Highway 33. Suite 2, Freehold, NJ 07728 • Tel:732.409.0800
795 Canton Street, Troy, PA 16947 • Tel: 570.297.5090 926 Main Street, Suite 103, Rome, PA 18837 •
Tel:570.297.5090www.hfacpas.com
EXHIBIT K-2
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITHGOVERNMENT AUDITING STANDARDS
Honorable Mayor and Membersof the Township Board of Commissioners
Township of Haddon135 Haddon Avenue Westmont, New Jersey 08108
We have audited, in accordance with the auditing standards generally accepted in the United States of Ameiica, the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States and audit requirements as prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, the financial statements of the Township of Haddon (herein referred to as "the Municipality"), as of and for the year ended December 31, 2012, and the related notes to the financial statements, which collectively comprise the Municipality's basic financial statements, and have issued our rep01t thereon dated March 28, 20 13.
Internal Control Over Financial Reporting
In planning and performing our audit of the :financial statements, we considered the Municipality's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpo se of expressing our opinions on the :financia l statements , but not for the purpose of expressing an opinion on the effectiveness of the Municipality' s internal contrnl. Accordingly, we do not express an opinion on the effectiveness of the Municipality's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees , in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented , or detected and corrected on a timely basis. A sign(fi cant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of the internal control over financial reporting was for the limited purpose desciibed in the first paragraph of this section and would not necessaiily identify all deficiencies in the internal control that might be significant deficiencies or material weaknesses. However, we noted certain matters involving the internal control over financial reporting and it's operation that we consider to be material weaknesses, which are described in the accompanying Comment and Recommendation Section as Finding No' s: 2012-01, 2012-02 and 2012-03.
100
Compliance and Other Matters
As pait of obtaining reasonable assurance about whether the Municipality's financial statements are free of material misstatement, we perfonned tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the detennination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed three instances of noncompliance or other matters that are required to be repmted under Government Auditing Standards and audit requirements as prescribed by the Division of Local Government Services, Department of Cmmnunity Affairs, State of New Jersey, and which is described in the General Comments Section as Finding No's: 2012-01, 2012-02 and 2012-03.
Purpose of this Report
The purpose of this repmt is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliai1ce. This report is an integral part of an audit perfonned in accord3llce with Government Auditing Standards 3lld audit requirements as prescribed by the Division of Local Govennnent Services, Depaitment of Community Affairs, State of New Jersey in considering the entity's internal control 3lld compli311ce. Accordingly, this cornmm1ication is not suitable for ally other purpose.
Respectfully submitted,
Ke I P. FreniaCe1tified Public Acconntai1t Registered Municipal Acconntant CR #435
March 28, 2013Medford, New Jersey
STATE ACCOUNT AWAR.D GRANT CASH
DEPARTMENT/PROGRAM TITLE NUMBER AMOUNT PERIOD RECEIVED
NJ Transportation Trust Fund Act 480-078-620-6010 $ 190,000 Open $ $ 190,000
Total Dcpart111ent of Transportation 190,000
State Departt11cnt of Environn1ental Protection:Clean Communities Grant 4900-765-178900-60 23,279 Open 23,279 8,511Green Con1111unitics Program NIA 3,000 Open 3,000
Recycling Tonnage Grant 4900-752-178840-60 43,024 Open 32,016
Total Department of Enviromnental Protection 23,279 43,527
State Deparhnent of Law and Public Safety:Drunk Driving Enforce1nent Fund 6400-100-078-6400 23,279 Open 3,830 2,009Body Annor Fund NIA 1,727 Open 1,727Safe & Secure Co1111nunities Grant NIA 120,000 2010/2011 & 2011/2012 111,605 60,000
Drug Awareness & Resfatancc Grant NIA 26,863 Various 6,176 5,537
ToiUl Dcpartrnent of Law and Public Safety 123,338 67,546
Adn1inistrative Office of the Courts:Alcohol Education Rehabilitation Program NIA 2,914 Open 2,914
Total Administrative Office of the Courts 2,914
State Departtnent of Corrununify Affairs:
NJ Histmic Trust NIA 50,000 Open 31,275 24,700
Total Department of Con11nunify Affairs 31,275 24,700
Depart111ent of Conm1erce & Econon1ic Development:Economic Development Authority Grant P37542 677,814 Various 146,888 292,223
146,888 292.223
EXHIBIT K-3
TO\VNSI-IJP OF IIA.DDONSCHEDULE OF EXPENDITURES OF STATE l<'INANCIAL ASSISTANCE
FOR YEAR ENDED DECEIVIBER 31, 2012
GRANT OR
EXPENDITURES
St'1te Departn1ent of Transportation:
0
Total State Financial Assistance $ 327,694 $ 617,996
102
EXHIBIT K4
TOWNSHIP OF HADDONNOTES TO SCHEDULE OF STATE FINANCIAL ASSISTANCE
FOR THE YEAR ENDED DECEMBER 31, 2012
Note 1. General
The accompanying schedule of expenditures of state fmancial assistance presents the activity of state financial assistance of the Township of Haddon, County of Camden, State of New Jersey. The Township is defined in Note 1 to the Township's financial statements.
Note 2. Basis of Accounting
The accompanying schedule of expenditures of state fioancial assistance are presented using the modified accrual basis of accounting as promulgated by the State of New Jersey, Depaiiment of Community Affairs, Division of Local Government Services, which is desc1ibed in the Notes to the Financial Statements, Note !.
Note 3. Relationship to Financial Statements - Statutory Basis
Amounts reported in the accompanying schedules agree with ainounts reported in the Township's general-purpose financial statements. Expenditures from awards are repo1ied in the Township's financial statement as follows:
State
State & Federal Grant Fund $ 427,996Capital Fund 190 000
Total $ 617 996
Note 4. Relationship to Federal and State Financial Report
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal and state financial report.
Note 5. Major Programs
The one major prograin is identified in the Schedule of Findings mid Questioned Costs section.
EXHIBIT K-5
TOWNSHIP OF HADDONSCHEDULE OF FINDINGS & QUESTIONED
COSTSFor the Fiscal Year Ended December 31, 2012
Section - Summary of Auditor's Results
Financial Statements
Type of auditor's report issued:
Internal control over financial reporting:
1) Material weakness( es) identified?
2) Significant deficiencies identified that are not considered to be material weaknesses?
Noncompliance material to basic financial Statements noted?
State Awards
Dollar threshold used to distinguish between type A programs:
Auditee qualified as low-risk auditee?
Internal Control over major programs:
1) Material weakness( es) identified?
2) Significant deficiencies identified that are notconsidered to be 1naterial \Veaknesses?
Type of auditor's report issued on compliance for major programs
Any audit findings disclosed that are required to be reported in accordance with NJOMB Circular Letter 04-04
State Grant/Project Nurnbers(s): Nante of State Program
Economic Development GrantNJ Transportation Trust Fund Act
Umnodified
Yes
No
Yes
$300,000
No
Yes
None Reported
Unmodified
No
TOWNSHIP OF HADDONSCHEDULE OF FINDINGS & QUESTIONED
COSTSFor the Fiscal Year Ended December 31, 2012
Section II- Financial Statement Findings
This section identifies the significant deficiencies, material weaknesses and instances of noncompliance related to the basic financial statements that are required to be reported in accordance with Chapter 5.18 through 5.20 of Government Auditing Standards.
Finding 2012-01:
Criteria or Specific Requirement:
The Township should maintain an accurate accounting of the third party lien and premium balances being collected and disbursed from the trust fund.
Condition:
An accounting of third paiiy lien ai1d premium balances is not being maintained by the tax collector.
Context:
Third paiiy liens should be recorded in the Township trust fund account and reconciled with the reserve balance in the general ledger accounting system.
Effect:
The balance that remains in the lien and premium trust accounts cairnot be analyzed to determine which block and lots the balance is made up of.
Cause:
The lien and premium trust balances have not been reconciled with the activity in the general ledgeraccounting syste1n.
Recommendation:
That the Township maintains an accounting of the third party lien and premium balai1ces being collected and retained in the Township trust account.
Views of Responsible Officials and Planned Corrective Action:
This condition will be corrected.
Fh1ding 2012-02:
Criteria or Specific Requirement:
The Township should be maintaining an accurate fixed asset control schedule.
Condition:
During onr audit it was noted that the fixed asset control schedule has not been maintained timely.
Context:
The fixed asset control schedule has not been updated to include certain additions and deletions.
Effect:
The fixed asset control schedule does not reflect an accurate accounting of the township's fixed assets.
Canse:
The fixed asset control schedule needs to be updated for all additions and deletions that have been made by the Township.
Recommendation:
That the fixed assets control schedule be updated to reflect all fixed asset additions and deletions on a timely basis.
Views of Responsible Officials and Planned Corrective Action:
This condition will be corrected.
Finding 2012-03:
Criteria or Specific Requirement:
The payroll activity of the Township should be recorded in the general ledger accounting system and the remaining reserve balance should be analyzed.
Condition:
The payroll activity of the Township is not being accounted for accurately in the general ledger accounting system. The Township has not maintained an analysis of the payroll reserve balance in the general ledger accounting syste1n.
Context:
The payroll activity is not being properly recorded in the general ledger accounting system.
Finding 2012-03 (continued):
Effect:
The payroll balance that remains as a reserve is unable to be analyzed.
Canse:
The payroll activity is not being properly recorded in the general ledger accounting system.
Recommendation:
That the payroll activity of the Township be properly recorded in the general ledger accounting system and that the payroll deduction reserve balance be properly analyzed.
Views of Responsible Officials and Planned Corrective Action:
This condition will be cmTected.
Section III - State Financial Assistance Finding & Questioned Costs
This section identifies audit findings required to be reported by section .510(a) of Circular A-133 and New Jersey OMB's Circular Letter 04-04.
No Cuuent Year Findings
EXHIBIT K-6
TOWNSHIP OF HADDONSUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
AND QUESTIONED COSTS AS PREPARED BY MANAGEMENTFor the Fiscal Year Ended December 31, 2012
TI1is section identifies the status of prior-year findings related to the basic financial statements and state awards that are required to be reported in accordance with Chapter 6.12 of Government Auditing Standards, U.S. OMB Circular A-133 (section .315 (a)(b)) and New Jersey OMB's Circular 04-04.
Finding 2011-01:
Condition:
Dming our audit it was noted that the fixed asset control schedule has not been maintained timely.
Current Status:
This condition has not been con·ected.
Finding 2010-01:
Condition:
During our audit it was noted that the fixed asset control schedule has not been maintained timely.
Current Status:
This condition has not been conected.
SUPPLEMENTARY DATA
Sun1n1ary of Statutory Debt Condition - Annual Debt Statement
The sun11narized state1nent of debt condition which follo\vs is prepared in accordance with the required 1nethod of setting up the Annual Debt State1nent and indicates a statutory net debt of 1.80%
GROSS DEBT DEDUCTIONS NET DEBT
Local School District Debt $ 8,110,000 $ 8,110,000 $Water-Sewer Utility Debt 13,446,465 13,446,465General Debt 25,054,289 25,054,289
Total $ 46,610,754 $ 21,556,465 $ 25,054,289
Net Debt, $25,054,289 divided by Equalized Valuation Basis per N.l.S.A40A:2-2, $1,388,948,565 equals 1.80%.
Equalized Valuation Basis:
2012 $ 1,379,650,6792011 1,381,001,3152010 1,406,193,701
Average $ 1,388,948,565
Borro,ving Po,ver Under 40A:2-6:
3 1/2 % of Equalized Valuation Bases (Municipal) $ 48,613,200Net Debt 25,054,289
Re1naining Bo1rowing Power $ 23,558,911
Calculation of Self-Liquidating Purpose - Water-Sewer Utility per N.J.S.40A:2-45
Cash Receipts Fro1n Fees, Rents & Other Charges $ 3,426,706
Deductions:OperatiJJg & Maintenance Costs $ 2,341,147 Debt Service 1,054,286 3,395,433
Excess/(Deficit) in Revenue $ 31,273
Comparative Statement of Operations and Change in Fund Balance - Current Fund
YEAR 2012 YEAR 2011
Revenue and OtherAMOUNT PERCENT AMOUNT PERCENT
Inco1ne Realized
Fund Balance Utilized Miscellaneous - Fro1n Other Than
$ 1,271,800 2.74% $ 1,575,000 3.46%
Local Property Tax Levies Collection of Delinquent Taxes &
3,100,072 6.68% 3,261,862 7.16%
Tax Title Liens 4,438 0.01%Collection of Cu1Tent Tax Levy 41,113,761 88.65% 39,823,638 87.40%Nonbudget Revenue Unexpended Balance of
490,994 1.06% 517,574 1.14%
Appropriation Reserves Cancelation of P1ior Year Payable
381,849 0.82% 309,198 0.68%
Inter-funds Liquidated 20,090 0.04°/o 73,815 0.16%
Total Inco1ne 46,378,566 100.00% 45,565,525 100.00%
Expenditures
Budget Expenditures -Municipal Purposes 11,482,433 25.31% 11,832,483 26.66%
County Taxes 10,683,391 23.55% 9,545,196 21.51%Local School Taxes 21,730,093 47.89% 21,568,456 48.60%Fire District Taxes 1,304,341 2.87% 1,279,110 2.88%Business I1nprove1nent District 150,918 0.33% 151,152 0.34%Other Adjustlnents to Inco1ne 22,494 0.05%
Total Expenditures 45,373,670 100.00% 44,376,397 100.00%
Excess in Revenue 1,004,896 1,189,128Fund Balance January 1 2,303,650 2,689,522
Total 3,308,546 3,878,650
Less: Fund Balance Utilized as Revenue 1,271,800 1,575,000
Fund Balance Dece1nber 31 $ 2,036,746 $ 2,303,650
Comparative Statement of Operations andChange in Surplus - Water & Se\\'er Utility Operating Fund
Revenue and Other YEAR 2012 YEAR 2011 Income Realized AMOUNT PERCENT AMOUNT PERCENT
Surplus Utilized $ 248,670 6.35% $ 150,000 3.76%Collection of Sewer Rents 3,295,345 84.15% 3,364,308 84.25%Miscellaneous - From Other Than
Sevver Rents 371,885 9.50% 478,756 11.99%
Total Inco1ne 3,915,900 100.00% 3,993,064 100.00%
Expenditures
Budget Expenditures:Operating 2,539,170 67.51% 2,479,040 66.94%Debt Service 1,054,286 28.03% 1,067,414 28.82%Defe1Ted Charges & Statutory
Expenditures 167,750 4.46% 156,722 4.23%
Total Expenditures 3,761,206 100.00% 3,703,176 100.00%
Excess in Revenue 154,694 289,888Surplus Balance January 1 555,802 415,914
Total SurplusLess: Utilization as Anticipated
710,496 705,802
Revenue 248,670 150,000
Surplus Balance Dece111ber 31 $ 461,826 $ 555,802
Comparison of Tax Levies and Collection Currently
A study of this tabulation could indicate a possible trend in future tax levies. A decrease in the percentage of cmrent collection could be an indication of a probable increase in future tax levies.
CURRENTLYPERCENTAGE
CASH OFYEAR TAX LEVY COLLECTIONS COLLECTION
2012 $ 41,191,747 $ 41,113,761 99.81%2011 39,904,900 39,823,638 99.80%2010 39,304,796 39,244,032 99.85%
Comparison of Tax Rate Information
2012 2011 2010
Total Tax Rate $ 3 1 5 $ 3 04 $ 5 54
Apportion111ent of Tax Rate: Municipal 0.578 0.578 1.080County 0.847 0.757 1.371Local School 1.723 1.709 3.092
Fire District #1 0.113 0.111 0.207Fire District #2 0.053 0.053 0.088Fire District #3 0.024 0.024 0.048Fire District #4 0.157 0.157 0.275Special hnprove111ent District #1 0.180 0.180 0.250Special hnprovernent Distiict #2 0.180 0.180 0.250
Net Valuation Taxable:
2012 $ 1,260,827,9162011 $ 1,261,356,6362010 $ 683,638,203
Delinquent Taxes and Tax Title Liens
This tabulation includes a co1nparison, expressed in percentage, of the total of delinquent taxes and tax title liens in relation to the tax levies of the last three years.
YEAR ENDED DECEMBER 31
AMOUNT OF TAX TITLE
LIENS
AMOUNT OF DELINQUENT
TAXESTOTAL
DELINQUENTPERCENTAGE OF TAX LEVY
2012 $ 30,128 $ 24,407 $ 54,535 0.13%2011 85,997 37,770 123,767 0.31%2010 58,439 20,719 786,050 2.00%
Property Acquired by Tax Title Lien Liquidation
The value of property acquired by liquidation of tax title liens on Decc1nber 31, on the basis of the last assessed valuation of such properties, was as follows:
YEAR AMOUNT
2012 $ 1,894,1002011 1,894,1002010 1,894,100
Comparison of Water-Se\ver Utility Levies
YEAR LEVY COLLECTION
2012 $ 3,296,370 $ 3,305,7292011 3,393,831 3,389,0012010 3,266,781 3,362,345
Schedule of Annual Debt Service for Principal and Interest for the Next Five Years for Bonded Debt 'Issued &Outstanding:
YEAR GENERAL CAPITAL WATER UTILITY
20132014201520162017
$ 1,309,3201,395,5761,371,3111,275,5791,280,892
$ 1,121,2061,140,2221,117,9701,044,7581,055,337
Comparative Schedule of Fund Balances
Current Fund:Balance
December 31
Utilized in Budget of
Succeeding Year
201 2 $ 2,036,746 $ 1,320,0002011 2,303,650 1,271,8002010 2,689,522 1,575,0002009 1,737,218 1,120,0002008 2,265,532 1,660,0002007 2,221,389 1,610,000
Co1nparative Schedule of Fund Balance
\Vater Operating
FundBalance
December 31
Utilized in Budget of
Succeeding Year
2012 $ 461,826 $ 429,1532011 555,802 248,6702010 415,914 150,0002009 208,199 100,0002008 490,013 305,0002007 224,028 175,000
OFFICIALS IN OFFICE AND SURETY BONDS
The following officials were in office at December 31, 2012:
NAME TITLE
Randall W. Teague Mayor
John C. Foley Co1mnissioner
Paul Dougherty Con:unissioner
Jack Bruno Chief Financial Officer
Dawn M. Pennock Municipal Clerk
Andrea Penny Tax Collector
Mary C. Twisler Court Administrator
Robert Gleaner Magistrate
Stumi A. Platt, ESQ Solicitor
Gregory Fusco Engineer
There were Employee's Blanket Perfonnance Bonds in the mnount of $1,000,000 for the Township employees and court persom1el carried by the Camden County Joint Insnra!lce Fund.
TOWNSHIP OF HADDON COUNTY OF CAMDEN
PART II
COMMENTS AND RECOMMENDATIONS FOR THE YEAR ENDED DECEMBER 31, 2012
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I HFAJHOLMAN I FRENIA
ALLISON, P.C.Certified Public Accounuuus & Consu ltams
10 Allen Street, Suite 28, Toms River NJ 08753 ·Tel·732.797.1333 618 Stokes Road, Medford, NJ
08055 Tel: 609.953.0612912 Highway 33, Suite 2. Freehold, NJ 07726 • Tel:732.409.0800
795 Canton Street, Troy, PA 16947 • Tel:570.297.5090 926 Main Street, Suite 103, Rome, PA
18837 • Tel:570.297.5090www.hfacpas.com
The Honorable Mayor and Members of the Township Board of Commissioners Township of HaddonWestmont, New Jersey 08108
We have audited the financial statements of the Township of Haddon in the County of Camden for the year ended December 31, 2012.
Scope of Audit
The audit covered the financial transactions of the Treasurer, Tax Collector, and Water-Sewer Utility Collector, the activities of the Mayor and Commissioners and the records of the various outside departments.
The audit did not and could not determine the character of services rendered for which payment had been made or for which reserves had not been set up, nor could it determine the character, proper price or quantity of materials supplied for which claims had been passed. These details were necessarily covered by the internal review and control before approval of such claims by the governing body.
Cash on hand was counted and cash balances were reconciled with independent certifications obtained directly from the depositories.
The accmed and realized revenues for the various Township Department s as shown on the Statements of Revenue and Revenue Accounts Receivable are present ed as recorded in the Township records.
In accordance with requirements prescribed by the Division of Local Government Services, Depa1i111ent of Conununity Affairs, State of New Jersey, the following are the General Comments and Recomm endations for the year then ended.
GENERAL COMMENTS
Contracts and Agreements Required to be Advertised by (N.J.S.A.40A:ll-4)
N J.S.A.40A:l l-4 - Every contract or agreement, for the perfonnance of any work or furnishing or hlling of any materials or supplies, the cost or the contract price whereof is to be paid with or out of public funds not included within the terms of Section 3 of this act, shall be made or awarded only by the governing body of the contracting unit after public advertising for bids and bidding therefore, except as is provided othenvise in this act or specifically by any other Law. No work, materials or supplies shall be undertaken, acquired or furnished for a sum exceeding in the aggregate $36,000 except by contract or agreement. The Township employs a qualified purchasing agent.
It is pointed out that the governing body of the municipality has the responsibility of determining whether the expenditures in any category will exceed the statutory minimum within the fiscal year. Where question arises as to whether any contract or agreement might result in violation of the statute, the solicitor's opinion should be sought before a commitment is made.
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Contracts and Agreements Required to be advertised by (N.J.S.A.40A:ll-4) (continued):
The minutes indicate that resolutions were adopted authorizing the awarding of contracts or agreements for "Professional Services," per N J.S.A.40A:ll-5.
Inasmuch as the system of records did not provide for an accumulation of payments for categories for the perfonuance of any work or the furnishing or hiring of any materials or supplies, the results of such an accu1nulation could not reasonably be ascertained. Disburse1nents were reviewed, however, to dete1111ine whether any clear-cut violations existed.
The compliance review of expenditures did not reveal any individual payments or contrncts in excess of the statutory limit "for the performance of any work, or the furnishing of any :materials, supplies or labor, or the hiring of teams or vehicles," other than those where bids had been previously sought by public adve1iisement or where a resolution had been previously adopted under the provisions of N J.S.A.40A: 11- 6.
Contracts and Agreements Requiring Solicitation of Quotations
The examination of expenditures did not reveal any individual payments, contracts or agreements in excess of $5,400 "for the perfonnance of any work or the furnishing or hiring of any mate1ials or supplies'', other than those where bids had been previously sought by public advertisement or where a resolution had been previously adopted under the provision of (N J.S.A.40A: 11-6.1).
Collection oflnterest on Delinquent Taxes and Assessments
N J.S.54:4-67, as amended, provides the method for authmizing interest and the maximum rates to be charged for the nonpayment of taxes or assessments on or before the date when they would become delinquent.
The governing body on January 6, 2012 adopted the following resolution authorizing interest to be charged on delinquent taxes:
"BE IT RESOLVED that the rate of interest to be charged for the nonpayment of taxes and water/sewer rents on the date when they become delinquent is hereby fixed as eight (8%) percent per annum of the first One Thousand F:ive Hundred Dollars ($1,500.00) of the delinquency, and eighteen (18%) percent per annmn on any amount in excess of One Thousand Five Hundred Dollars ($1,500.00). The same to be calculated from the date of actual payment; provided, however, that no :interest be charged if payment is made with ten (10) days after the date upon which same became payable."
It appears from an examination of the Collector's record that interest was collected in accordance with the foregoing resolution.
Delinquent Taxes and Tax Title Liens
The last tax sale was held on December 17, 2012 and was complete.
The following comparison is made of the number of tax title liens receivable on December 31 of the last three years:
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Delinquent Taxes and Tax Title Liens (continued):
YEAR201220112010
NUMBER OF LIENS201511
Deductions From Taxes
The audit of senior citizen and veteran deductions on a test basis revealed that deductions appeai· reasonable.
Finding 2012-01:
An accounting of third party lien and premium balances is not being maintained by the tax collector.
Recommendation:
That the Township maintains an accounting of the third party lien and premium balances being collected and retained in the Township trust account.
Examination of Bills
A test check of paid bills was made and each bill, npon proper approval, was considered as a separate and individual contract unless the records disclosed it to be a part payment or estimate.
Municipal Court
As part of the test of the municipal court records, no attempt was made to differentiate between fines due the Township, County, or State, or to pass npon the authenticity of the preparation and procedures for complaints issued.
The statutory report on the operations of the Municipal CoUit has been prepared and copies filed with the New Jersey Administrative Office of the Courts, the Division of Local Government Services, the Municipal Court and the Township Clerk.
Fixed Assets
*Finding 2012-02:
During our audit it was noted that the fixed asset control schedule has not been maintained timely.
Recommendation:
That the fixed assets control schedule be updated to reflect all fixed asset additions and deletions on a timely basis.
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Payroll
Finding 2012-03:
The payroll activity of the Township is not being accounted for accurately in the general ledger accounting system. TI1e Township has not maintained an analysis of the payroll reserve balance in the general ledger accounting system.
Recommendation:
That the payroll activity of the township be properly recorded in the general ledger accounting system and that the payroll deduction reserve balance be properly analyzed.
Follow-up on Prior Year Findings
ill accordance with govermuent auditing standards, my procedures included a review of all prior year findings. Corrective action has been taken on all of the prior year fmdings except those marked above with an asterisk (*).
Acknowledgment
We express our appreciation for the assistance and courtesies extended to the members of the audit team.
Tbe problems and weaknesses noted in our review were not of such magnitude that they would affect our ability to express an opinion on the financial statements taken as a whole.
Should you have any questions concerning our comments or reconnnendations, or should you desire anyassistance in ilnple111enting our reco1nn1endations, please call 111e.
Respectfully submitted,
Medford, New Jersey March 28, 2013
Registered Municipal Accountant No. CR435